Hyderabad, India, December 8, 2023 – Neuland Laboratories Limited (NLL) (NSE: NEULANDLAB;
BSE:524558), a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing solutions services to customers located in around 80 countries, has been informed that Dr. Davuluri Rama Mohan Rao, Founder & Promoter and Executive Chairman of
Neuland Laboratories Limited (the Company) has sold 4,00,000 equity shares of the Company (i.e. 3.12 % stake) today through open market at an average price of Rs. 5,012.45. Dr. Rao has informed that he intends to use the funds generated from this sale for personal purposes.
Davuluri family does not plan to sell any further shares in the foreseeable future and are fully committed and invested in the future of Neuland Laboratories Limited.
How will the market perceive stake sell by main promoter.
Rs 200 Cr is a big amount…
Disclosure: Invested form long term perspective.
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