2 hours ago
HomeMarket NewsStocks NewsPrivi Speciality Chemicals Block Deal | Seller to offload 6.32% stake for ₹700 crore
The floor price for the transaction has been set in the range of ₹2,835-2,850 per share, representing a discount of 11.14% to the current market price. Shares of Privi Speciality Chemicals Ltd ended at ₹3,228, up by ₹121.80, or 3.92%, on the BSE today, December 30.
A shareholder of Privi Speciality Chemicals Ltd is likely to sell up to 6.32% stake in the company via a block deal, sources privy to the developments told CNBC-TV18. The total offer size is expected to be ₹700 crore.
The floor price for the transaction has been set in the range of ₹2,835-2,850 per share, representing a discount of 11.14% to the current market price (CMP).
Back in June this year, four promoter entities of Privi Speciality Chemicals sold a combined 4.09% stake in the company for ₹330 crore through open market transactions.
Also Read: Bandhan Bank offloads ₹6,872 crore unsecured NPA and written-off loans to ARCs
Privi Speciality Chemicals' promoters — Bhaktavatsala Rao Doppalapudi, Vijaykumar Doppalapudi, Vinaykumar Doppalapudi Rao and Vivira Investment and Trading — sold a total of 16 lakh shares or 4.09% stake in the company, as per the bulk deal data on the NSE.
The transaction, valued at around ₹329.88 crore, was executed in the price range of ₹2,055-2,087.70 per share. After the transactions, the combined promoter holding in Privi Speciality Chemicals declined to 69.96% from 74.05%.
Shares of Privi Speciality Chemicals Ltd ended at ₹3,228, up by ₹121.80, or 3.92%, on the BSE today, December 30.
Also Read: "Factually incorrect, irresponsible": Reliance refutes reports of $30 bn claim by Indian govt
(Edited by : Shoma Bhattacharjee)
