Granules India promoter sells 17.2 mln shares, reduces group stake to 31.08%
This story was originally published at 20:13 IST on 11 September 2026
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NEW DELHI – Granules India Ltd. Friday said its promoter, Dr. Krishna Prasad Chigurupati, sold 17.2 million equity shares through a block deal and the open market. The transaction saw participation from marquee institutional investors, including Capital Group, Kotak Mahindra Life Insurance Co., ChrysCapital, Allspring, and other domestic and global investors, the company said in an exchange filing.
Following the transaction, the aggregate shareholding of the promoter and promoter group in the company has declined to 31.08% from 38.02%, as per the exchange filing. On a diluted basis, the aggregate shareholding of the promoter and promoter group after the transaction stands at 37.39%, and Chigurupati's individual shareholding, as a promoter, has changed to 24.06% from 31%, it said. "The transaction was undertaken to fund the second tranche of the company's ongoing preferential issue and support the next phase of growth initiatives in line with its stated objects."
The company has deployed the funds raised through the preferential issue in February 2026 and executed the identified growth initiatives at a pace faster than originally envisaged, the exchange filing said, adding that the funds have been utilised significantly earlier than anticipated.
For the June quarter, the company reported a consolidated net profit of INR 1.80 billion on revenue of INR 14.77 billion. Friday, shares of Granules India closed 1.1% higher at INR 909.30 on the National Stock Exchange. End
Reported by Astha Oriel
Edited by Deepshikha Bhardwaj
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