Promoters divest 3.07 per cent stake in Ajanta Pharma

New Delhi: Drug firm Ajanta Pharma said its promoters have sold 27 lakh shares in the company representing about 3.07 per cent of its paid-up capital.

Consequent to the sale, the promoter holding in the company has come down from 73.78 per cent to 70.71 per cent, Ajanta Pharma said in a filing to BSE.

"Ganga Exports, a promoter group entity has sold 27 lakh shares in the company, representing 3.07 per cent of paid up capital," Ajanta Pharma said.

At today's closing price, the deal would be worth over Rs 400 crore, though the company did not say when the shares were sold.

"This sale has been done to provide liquidity to the promoters and the proceeds will be utilised for personal use," Ajanta Pharma said.