Clearwater Capital Partners has sold 6.95% stake in Lyka Labs for Rs 20 million on Wednesday. Clearwater sold 1.50 million shares at an average price of Rs 13.36 a share. Earlier on Jun. 30, 2014, Clearwater was holding 7.65% stake in the company.
Recently the company has reported a loss of Rs 75.10 million in quarter ended June 2014 compared with a loss of Rs 32.68 million in the same period last year. It has recorded a drop in sales to Rs 154.44 million compared with Rs 170.47 million in the last year period.
Lyka Labs is engaged in the pharmaceuticals business. It provides contract manufacturing services and generics and animal health care products.
