Krishna Prasad Chigurupati, one of the promoters of Granules India, on Wednesday pared a 3.09 per cent stake in the company for Rs 304 crore through an open market transaction.
According to the block deal data available on the NSE, Krishna Prasad Chigurupati offloaded 75 lakh shares, amounting to a 3.09 per cent stake in Granules India.
The shares were disposed of at an average price of Rs 405.08 apiece, taking the deal size to Rs 303.81 crore, as per the data on the National Stock Exchange (NSE).
According to a regulatory filing on Wednesday, Granules India said the primary objectives of the deal was to clear personal debt, to release the existing pledge on his holding in the company, and creating a small personal liquidity.
“Chigurupati further notified the company that he has no plans to sell his shareholding in Granules India Ltd in the foreseeable future.
“Post this transaction, the total promoter & promoter group shareholding in the company has changed from 41.96 per cent to
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