Laurus Labs promoters sell 52 lakh equity shares at aggregate Rs 191.67 crores

Laurus Labs announced that Dr Satyanarayana Chava, Founder Promoter, CEO & ED, sold 52 lakh equity shares of the company in the stock market at an average price of Rs 368.59, per share, aggregating to Rs 191.67 crores and Nagarani Chava, one of the promoters of the company sold 18 lakh equity shares of the company at an average price of Rs 366.91 per share at an aggregate value of Rs 66.04 crores, together 1.3 per cent of the paid-up capital of the company.

A significant part of the above amount shall be utilised to release the pledge on their equity shares of the company.

The above promoters have purchased around three per cent of the then paid-up capital of the company in the year 2018.