Of this, there will be a greenshoe option of 1.65 lakh shares representing 0.5% of the equity.
Kotak Securities and Citigroup could be the bankers for the Torrent Pharma deal, the report said.
Shares of Torrent Pharma traded today on NSE at Rs. 3,207 to end the session, up from Monday’s closing price of Rs. 109.70 or 3.31% down to Rs.
Torrent Investments Pvt Ltd is the promoter of the company with 71.25% stake as on September 30, 2024.
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Torrent Pharmaceuticals reported a revenue of Rs. 453 crore reported a consolidated profit after tax (PAT), up 17% due to strong sales in the domestic market. The drug company in the July-September period of the last financial year made Rs. 386 crores PAT was reported.
During the period under review, the revenue increased to Rs. 2,889 crore which in the corresponding period of the previous year was Rs. 2,660 crore, Torrent Pharmaceuticals said in a regulatory filing.
The company said its India revenue grew 13% to Rs. 1,632 crore, due to outperformance in Focus Therapy.
The drugmaker reported strong sales growth in markets such as Brazil, Germany and the US in the September quarter.
Torrent said its insulin revenue was impacted in the second quarter due to a scheduled shutdown in August for maintenance activities.
The feature will be released for manufacturing in December.
“The deficit is planned to recover substantially in Q4 of this year and as a result, there will be no impact on a full year basis,” it said.
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