KPR Mill Stakeholders Shake Up: Shares Divested and Acquired
Three major stakeholders of KPR Mill sold a 3.16% stake in the company for Rs 1,231 crore. Following the sale, ICICI Prudential Life Insurance acquired a 0.51% stake for Rs 200 crore. The promoter group’s overall stake has now decreased from 70.68% to 67.52%.
- Country:
- India
In a significant move, three promoters of KPR Mill reduced their stake in the company by 3.16% by selling shares worth Rs 1,231 crore through open market transactions on Wednesday.
BSE data revealed that KPD Sigamani, K P Ramasamy, and P Nataraj offloaded a total of 1.08 crore shares from the Coimbatore-based manufacturing giant, affecting a considerable change in the company’s stakeholder dynamics.
The sale priced between Rs 1,140.10 and Rs 1,140.33 per share has reduced the group’s combined stake from 70.68% to 67.52%, while ICICI Prudential Life Insurance acquired 0.51% stake for Rs 200 crore. Other buyers remain unidentified as shares fell 2.83% to Rs 1,195.35 on the BSE.
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