Sources indicate that Torrent Pharma is also engaged in discussions with three to four equity firms and foreign institutions as it explores funding options for the potential acquisition. This year it was reported that the promoters of Cipla were exploring options for a stake sale and were in talks with equity firms like Blackstone and BPEA EQT. Given that the second-generation promoters of Cipla, YK Hamied (Chairman) and MK Hamied (Vice Chairman), are now octogenarians(a person who is between 80 and 89 years old) there is a need for a clear succession plan within the company.