Upcoming Webinar:Join us for Sustainability 100+ Dialogues 2021-Maharashtra Roundtable& know how the state is progressing on climate action

Orchid Pharma shares hit 10% lower circuit on stake sale by a promoter

Dhanuka Laboratories will sell 8.04 percent of the total share of the company on June 24 and June 25 via an offer for sale.

June 24, 2021 / 12:50 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Orchid Pharma cracked 10 percent and were locked in 10 percent lower circuit of Rs 1,187.85 in intraday trade on BSE on June 24, a day after one of its promoters said it would sell its stake in the company.

Dhanuka Laboratories will sell 8.04 percent of the total share of the company on June 24 and June 25 via an offer for sale.

"Dhanuka Laboratories, one of the promoters of Orchid Pharma, proposes to sell in aggregate up to 32,80,115 shares of the company, representing 8.04 percent of the total share on June 24, 2021 (for non-retail investors only) and on June 25, 2021 (for retail investors)," the company said in a BSE filing. The floor price for the sale shall be Rs 375 per share.

Overall, the market is in the green with Sensex rising over 300 points. At 1225 hours, Sensex was 309 points up at 52,615.
Moneycontrol News
first published: Jun 24, 2021 12:50 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark