Wockhardt’s promoter hikes stake in company

Wockhardt’s promoter has acquired equity shares of the company worth Rs 10 crore from the open market. Khorakiwala Holdings & Investments, the promoter of the company has acquired 211,094 equity shares representing 0.20% stake of the pharmaceutical company via market purchase in past trading sessions.

The company’s promoter has bought 50,000 shares each on August 30, September 2 and September 3, while purchased 61,094 shares on September 4, through open market purchase. The promoter has acquired these shares for total consideration of Rs 9.66 crore. Post acquisition, promoter's holding in Wockhardt has increased to 64.08% from 63.88% earlier.

Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.