Shares of Evoq Remedies were trading 7% lower on 12 January after promoters of the company divested in the company through an open market transaction.

The promoters of the company offloaded 72 lakh shares of the company in the last two trading sessions just after the company secured a mega export order.

According to the exchange data, on the first day, promoters Bhumishth Narendrabhai Patel and Payal Bhumishth Patel sold 11.5 lakh shares each. On the second day, promoters Bhumishth Narendrabhai Patel offloaded 30.6 lakh shares, while Payal Bhumishth Patel sold 18.5 lakh shares.

Together, both promoters have sold 72 lakh shares of the company from 1 crore shares held by the two as of September 2023.

On 10 January, the company said that it had secured an export order worth Rs 136 Crore from Marlexx Pharma Inc., a US-based company for delivering high-quality pharmaceutical products. The order received value is six times more than the company’s market capitalisation of Rs 22 crore.

The company has received orders to supply pharmaceutical products, including Tramadol Hydrochloride API, Lisinopril API Powder, Metformin API, Piperacillin Sodium Sterile, and many more.

At 3:30 pm, the shares of Evoq Remedies closed 8.28% lower at Rs 15.50 on BSE.