Fosun Pharma sold 98.97 lakh shares, representing about 6% of Gland Pharma’s equity, according to deal data.
Among the buyers, Kotak Mahindra Mutual Fund bought 27.93 lakh shares, or a 1.69% stake, for ₹789 crore.
Axis Mutual Fund purchased 13.57 lakh shares, representing a 0.82% stake, for ₹384 crore, while ICICI Prudential Mutual Fund bought 10.39 lakh shares, or a 0.63% stake, for ₹294 crore.
Together, the three mutual funds bought 51.89 lakh shares, or around 3.14% of Gland Pharma, for approximately ₹1,467 crore.
The shares bought by Kotak Mahindra Mutual Fund, Axis Mutual Fund and ICICI Prudential Mutual Fund changed hands at an average price of ₹2,826.6 apiece.
The identities of buyers of the remaining shares sold by Fosun Pharma were not immediately clear from the available deal information.
Final deal larger than earlier indicated
The eventual stake sale was larger than what had been indicated ahead of the transaction.
On Thursday, CNBC-TV18 had reported, citing sources, that Fosun Pharma was likely to sell up to a 5% stake in Gland Pharma for ₹2,279.5 crore, with the floor price set at ₹2,763 per share.
The final transaction involved a 6% stake, comprising 98.97 lakh shares, for around ₹2,800 crore.
At the end of the June quarter, promoter Fosun Pharma Industrial Pte Ltd held a 51.77% stake in Gland Pharma, while public shareholders held 48.23%, according to stock exchange data. A 6% stake sale would bring Fosun Pharma’s holding down to about 45.77%, assuming no other change in its shareholding.
USFDA inspection ends with zero observations
The stake sale comes days after Gland Pharma received a clean outcome from a US regulatory inspection.
Earlier this week, the company informed the exchanges that the US Food and Drug Administration (USFDA) had concluded its routine good manufacturing practice inspection at Gland Pharma’s VSEZ sterile oncology formulations facility and API facility with zero Form 483 observations.
The inspection was conducted between August 24 and September 1, 2026.
Profit jumped 47% in June quarter
Gland Pharma had also reported strong first-quarter earnings last month.
Net profit increased 47.1% to ₹317 crore from ₹215 crore in the year-ago period, while revenue rose 19.6% to ₹1,800.2 crore from ₹1,505.6 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 33.1% to ₹489.2 crore from ₹367.6 crore a year earlier.
Its EBITDA margin expanded to 27.2% from 24.4% in the corresponding quarter last year.
Gland Pharma shares had given up their opening gains during Friday’s session. The stock has nevertheless gained sharply in recent months and was up about 65% on a year-to-date basis based on the morning’s trading levels.
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