Life Insurance Corporation of India (LIC), the country’s largest insurer has sold 3,620,088 shares constituting 2.13% stake in pharma major Dr Reddy’s Laboratories in an open market transaction between January 10 and May 10. Pursuant to this, LIC’s stake has been reduced to 4.1% in the company. The promoters had 25.56% stake while the foreign institutional investors and domestic institutional investors hold 29.66% and 11.03% respectively while others hold 33.75%.
Dr. Reddy’s is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.
