Cipla, a major player in the pharmaceutical industry, is poised for a significant block deal as a promoter entity plans to sell a 2.53% stake in the company, estimated to be worth around Rs 2,637 crore. This transaction involves the sale of approximately 2% of the promoter's stake with an option to increase the deal size to 2.5%​ (mint)​.

The shares are being offered at a price range of ₹904.8 to ₹916.7 per share, representing a discount of 4-5.25% from Cipla’s closing price of ₹954.9​ (mint)​. This move comes as the promoters, who currently hold a 36.11% stake in the company, aim to reduce their holdings for personal and philanthropic reasons​ (Outlook Business & Money)​.

Negotiations have been challenging due to the high valuation sought by the founding family, which is seeking about Rs 1,350 per share, a 10% premium over the current market price. Potential buyers have been hesitant to meet this valuation, putting the sale in a precarious position​ (Outlook Business & Money)​.

For further details, you can refer to the original article on Moneycontrol or other sources such as Mint and Outlook India.