Adar Poonawalla, CEO, Serum Institute of India (SII) has sold off his entire stake of 31,57,034 shares in Panacea Biotec at a price of Rs 373.85 apiece. He had a 5.15 per cent shareholding in the company and the total value of the transaction was a little over Rs 118 crores. The stake was picked up by SII.
PTI reported that as per shareholding data for March quarter, Poonawalla and SII were public shareholders in the company. They held 5.15 per cent and 4.98 per cent stake respectively in Panacea Biotec.