Cipla Blackstone Deal: Blackstone preparing to buy 33% stake in Cipla


New Delhi : After Thursday’s decline, the bulls were ready to run on the last trading day of the week. For this reason, Sensex was seen trading with a gain of around 500 and Nifty by 145 points on Friday afternoon. Cipla Ltd. shares saw an impressive gain of 4.39% today. Also the stock has touched a new 52-week high of Rs 1238.55 per share on BSE. Apart from this, the volume of the stock has increased by more than 1.25 times.

Blackstone wants 33% stake in Cipla

A report in Economic Times today suggested that Blackstone plans to submit a non-binding bid next week to acquire over 33% stake in Cipla. Silpa is the third largest generic company in India by revenue. In fact, if Blackstone’s bid to acquire more than 33% promoter stake in Cipla is successful, it will mark the formal beginning of the final exit process for the Hameed family from the company.

Hameed family established the company in 1935

The Hameed family has been associated with Cipla since the company’s inception in 1935 and this potential transaction could signal a significant change in the company’s ownership structure. His longstanding involvement with the company could lead to the family’s eventual exit. Congress general secretary Jairam Ramesh has expressed disappointment over Blackstone’s decision to acquire stake in India’s oldest pharmaceutical company Cipla.

Jairam Ramesh said this

“Saddened to learn that Blackstone, the world’s largest private equity fund, is in talks to acquire the entire 33.47 per cent promoter stake in Cipla, India’s oldest pharma company,” Ramesh wrote on Twitter. He said Cipla was founded in 1935 by Khwaja Abdul Hameed, who was deeply influenced by Mahatma Gandhi, Nehru, Sardar Patel and Maulana Azad. The Congress leader said, “He also played an important role in the creation of CSIR.” Ramesh further described Cipla as ‘a shining example of Indian nationalism’ and an integral part of India’s political, economic and social history.

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