Wockhardt Limited promoter Humuza Consultants sells 2.64 per cent stake in the company comprising 3.8 million shares in the open market, the company announced through an exchange filing.
The shares were sold on March 24, March 27, June 7 and September 18 on the open market.
The proceeds of the transactions will be reinvested in the company to meet its business requirement Humuza Consultants said in the regulatory filing.
Post the sale of stake by Humuza Consultants, its stake in the company has reduced from 60.35 per cent to 57.71 per cent.
Further, the Promoter and Promoter Group re-emphasized its complete faith in future growth prospects of the Company and remains fully committed to pursue its long-term business goals by providing all necessary support, whether financial or otherwise, wherever required.
The shares of Wockhardt on Thursday morning at 11:17 am IST were trading at Rs 242, up by 0.67 per cent.