Ajanta Pharma Promoter Sell 3% Stake Worth ₹1,024 Crore; Shares Trade Higher

Mumbai, June 10: A promoter entity of Ajanta Pharma Ltd. on Tuesday offloaded a nearly 3% stake in the company through open market transactions, even as domestic institutional investors stepped in to absorb a large part of the sale.

According to exchange data, Ravi Agrawal Trust sold 34.50 lakh shares, representing a 2.76% stake, at an average price of ₹2,968 per share. The transaction value stood at approximately ₹1,023.96 crore.

Following the sale, the trust’s holding in the Mumbai-based drugmaker declined to 10.24% from 13%. The combined shareholding of promoters and promoter group entities also fell to 63.49% from 66.25%.

On the buy side, Kotak Mahindra Mutual Fund acquired 21.02 lakh shares, while Aditya Birla Sun Life Mutual Fund purchased 13.47 lakh shares at the same price, reflecting continued institutional interest in the stock.

Ajanta Pharma Share Snapshot

Separately, Ajanta Pharma shares traded higher in morning trade on June 10, supported by buying interest in pharmaceutical stocks. The stock was trading at ₹3,063.60, up 1.54% as of 10:21 a.m. IST, after opening at ₹3,040.80 and touching an intraday high of ₹3,070. It had closed at ₹3,017.20 in the previous session.

The company’s market capitalization stood at around ₹38,280 crore, with the stock trading at a price-to-earnings multiple of 36.25, according to exchange data.

Investor interest in pharmaceutical companies has remained steady, particularly in export-oriented and specialty drug manufacturers, amid expectations of stable global demand.

Overall, the Ajanta Pharma deal reflects a partial promoter stake monetisation alongside sustained institutional participation, while the stock’s positive movement suggests steady market confidence despite the dilution.

(With inputs from PTI)