In this, there will be a greenshoe option of 1.65 lakh shares representing 0.5% of the equity.
Kotak Securities and Citigroup are likely to be bankers to the Torrent Pharma deal, the report said.
Torrent Pharma shares today ended the session at Rs 3,207 on the NSE, down by Rs 109.70 or 3.31% over the Monday closing price.
Torrent Investments Private Limited is a promoter of the company with 71.25% stake as on September 30, 2024.
Torrent Pharmaceuticals reported a consolidated profit after tax (PAT) of Rs 453 crore in the September quarter, which rose by 17% led by robust sales in the domestic market. The drug firm had reported a PAT of Rs 386 crore in the July-September period of the last fiscal.During the period under review, revenues rose to Rs 2,889 crore compared to Rs 2,660 crore in the year-ago period, Torrent Pharmaceuticals said in a regulatory filing.The company said its India revenues increased 13% to Rs 1,632 crore, led by outperformance in focus therapies, it added.
The drug maker also recorded robust sales growth across markets like Brazil, Germany and the US in the September quarter.
Torrent said its insulin revenues were impacted in the second quarter due to a scheduled shutdown taken in August for maintenance activities.
The facility will be released for manufacturing in December, it added.
“Shortfall is significantly planned to be recovered in Quarter 4 of this year and consequently, there will not be any impact on a full-year basis,” it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
