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CEO of Serum Institute, Adar Poonawalla exits Panacea Biotec, sells its entire stake

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Adar Poonawalla exits Panacea Biotec: Serum Institute of India (SII) CEO Adar Poonawala on Monday sold his entire 5.15 percent stake in Panacea Biotec for Rs 118 crore under an open market deal. These shares were bought by SII.

Adar Poonawalla exits and sold his 31,57,034 shares of Panacea Biotec at a price of Rs 373.85 per share, earning him a total of Rs 118.02 crore, as per the Bombay Stock Exchange (BSE) outright deal data. SII bought these shares in a separate deal at the same price.

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According to Panacea’s March 2021 shareholding figures, Adar Poonawalla and SII were public shareholders with 5.15 per cent and 4.98 per cent stake in the company, respectively. In another deal, Sharda Mines sold shares worth Rs 227.66 crore to Jindal Steel & Power Limited.

52.74 lakh shares of the company were sold at the rate of Rs. 431.62 per share. The share price of Jindal Steel & Power Ltd. rose 4.65 percent to close at Rs 436.55 per share on Monday.

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