Torrent Pharma stock drops 4% as promoter likely pares stake in Rs 3,239 cr block deal

Torrent Investments holds a 71.25 percent stake in Torrent Pharma

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of Torrent Pharma slipped as much as 4 percent on October 30 after a block deal worth Rs 3,238.90 crore took place in the counter with promoter Torrent Investments being the likely seller.

At 09.33 am, shares of Torrent Pharma were trading at Rs 3,113.25 on the NSE. The block deal also tipped off a spike in trading volumes in the counter. As much as one shares already changed hands, far higher than the one month daily traded average of four lakh shares.

As much as 1.04 crore shares, making up a 3.1 percent stake in the drugmaker changed hands at an average price of Rs 3,108 apiece, implying an over 3 percent discount from the stock's previous closing price.

Follow our market blog to catch all the live action

Moneycontrol could not immediately ascertain the parties involved in the transaction, however, CNBC-TV18 had reported that promoter Torrent Investments Private Limited was eyeing to offload up to 2.9 percent equity in Torrent Pharma through block deals, in a bid to make up to Rs 3,000 crore.

While the base size of the issue was 83 lakh shares, representing 2.4 percent of total equity and valued at Rs 2,500 crore, it had an additional greenshoe option of 16.5 lakh shares worth Rs 500 crore, according to a separate report by CNBC-Awaaz.

Furthermore, CNBC-TV18 also reported that the block deal will also trigger a lock-in period of 120 days, during which Torrent Investments will be restricted from selling any further stake.

Torrent Investments holds a 71.25 percent stake in Torrent Pharma, as per the drugmaker's recent shareholding data.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.