Rekha Jhunjhunwala, the wife of Rakesh Jhunjhunwala, recently sold an additional 3.4% stake in BSE-listed Bilcare Limited through a bulk deal on Tuesday.
This comes after the sale of 0.5% stake in the company via open market transactions on Monday.
According to exchange data, Jhunjhunwala sold 7,94,431 shares of Bilcare at a price of Rs 46 per share on Tuesday, which is a 10% premium to the closing price on Monday of Rs 41.90.
The stock closed at Rs 46 on the BSE, indicating a 10% increase from the previous close. The sale of the stake earned the Jhunjhunwala family Rs 3.65 crore.
Additionally, individual investor Vara Lakshmi Guttikonda purchased a 3.5% stake in the company at Rs 45.88 per share. Despite being the single largest public shareholders of the company in the June quarter, the Jhunjhunwalas do not appear in the September quarter shareholding on the BSE.
Bilcare is a global leader in providing packaging solutions for the pharmaceutical industry. As of June, Rakesh and Rekha Jhunjhunwala held a combined 8.48% stake in the company, and have been investors in the company since 2015.
However, the stock has performed poorly in 2022, with its value dropping more than 50% in the past year and reaching an over two-year low of Rs 31.10 in December.
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