Sanofi Healthcare buys 15.2% stake in Sanofi India for Rs 1,068 cr

New Delhi: Sanofi Healthcare India, one of the promoter group entities of Sanofi India, on Thursday bought nearly a 15.2 per cent stake in the pharmaceutical company for Rs 1,068 crore through an open market transaction.

Sanofi Healthcare India is a major subsidiary of the global pharmaceutical leader Sanofi SA, operating in the country for nearly seven decades.

Sanofi Healthcare India Pvt Ltd purchased 35 lakh shares, amounting to a 15.19 per cent stake in Mumbai-based Sanofi India, according to the block deal data on the National Stock Exchange (NSE).

The shares were picked at an average price of Rs 3,052 apiece, taking the deal value to Rs 1,068.20 crore.

Meanwhile, Hoechst GmbH, one of the promoters of Sanofi India, sold an equal number of shares at the same price, as per the data.

Hoechst, an entity of the Sanofi Group, acts as a holding company for investments in companies of this group.

Following the stake sale, Hoechst’s holding in Sanofi India fell to 45.17 per cent from 60.37 per cent. However, the transactions will not alter the combined shareholding of the promoters and promoter group entities in the pharmaceutical company.

Shares of Sanofi India settled nearly 3 per cent higher at Rs 3,138 apiece on the NSE.

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