Adar Poonawalla exits Panacea Biotec; sells entire stake for ₹118 crore

Industry:    2021-05-18

Serum Institute of India CEO Adar Poonawalla on Monday offloaded his entire stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm for ₹118 crore, through an open market transaction.

The shares were picked by Serum Institute of India (SII).

Separately, Sarda Mines sold shares worth ₹227.66 crore in Jindal Steel and Power Ltd.

Over 52.74 lakh scrips were offloaded at the price of ₹431.62 apiece.

Jindal Steel and Power stock on Monday ended 4.65 per cent higher at ₹436.55.

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