Pfaudler Inc divests stake in GMM Pfaudler Ltd

Stake sale in GMM Pfaudler Ltd ('GMMP') by Pfaudler Inc. (controlled by DBAG Fund VI, a private equity fund; 'DBAG') through bulk deals.

Highlights

- Pfaudler Inc. (controlled by DBAG Fund VI, a private equity fund; 'DBAG') has sold 77,85,819 equity shares (17.32%) of the company through bulk deals at ₹ 1700 per share. DBAG has been a financial investor in the company since 2014

- Post the sale, Patel family has become the single largest Promoter shareholder in the company

- Patel Family has entered into an arrangement to purchase 4,49,572 equity shares (1%) from Pfaudler Inc. (DBAG) at ₹ 1700 per share, subject to regulatory approvals, through an inter-se promoter transfer

- As a result of the bulk deals, shareholding of foreign and domestic institutional investors has increased

Mr. Tarak Patel, Managing Director said, "The Patel family has now become the single largest promoter shareholder of the company after 34 years; with this milestone, life has come a full circle. We have reiterated our commitment to the business by increasing our stake and will continue to actively manage the company going forward."

Shares of GMM Pfaudler Limited was last trading in BSE at Rs. 1643.65 as compared to the previous close of Rs. 1930.70. The total number of shares traded during the day was 2081975 in over 58379 trades.

The stock hit an intraday high of Rs. 1765.00 and intraday low of 1575.00. The net turnover during the day was Rs. 3486164225.00.

Source : Equity Bulls

Keywords

GMMPfaudler INE541A01023 StakeSale Pfaudler PEFund DBAGFundVI