October 6, 2016 / 2:57 PM / a year ago

Founders of India's Aurobindo Pharma to sell up to $135 million of shares - term sheet

MUMBAI (Reuters) - The founders of India’s Aurobindo Pharma are selling shares worth up to $135 million in a block trade on Friday, according to a deal term sheet seen by Reuters.

The drugmaker is selling the shares in a price range of 810 rupees to 830 rupees, the term sheet showed.

The price range equates to a discount of between 3.1 percent and 5.5 percent of Wednesday closing price of 856.85 rupees ($12.83).    

($1 = 66.7753 Indian rupees)

Reporting by Manoj Rawal and S. Anuradha of IFR; Editing by David Goodman

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