Voltamp Transformers shares fall after equity worth ₹618 crore changes hands in block deals

Shares of Voltamp Transformers Ltd. fell as much as 2% on Tuesday, September 9, after a large trade took place in the stock.

As many as 8.12 lakh shares of Voltamp Transformers changed hands in the transaction that took place in the early minutes of the trading session on Tuesday.

The number of shares that changed hands, amount to 8% of the outstanding equity in the stock.

Shares changed hands at an average price of ₹7,611 per share, which takes the total transaction value to ₹618 crore.

According to sources in the know who spoke to CNBC-TV18, promoter Kunjal Patel is likely to be the seller in the transaction.

On the financial front, Voltamp has posted modest growth since the first stake sale. Revenue is up 11% from Q2 FY24 to Q1 FY26, while margins have contracted by 90 basis points to 17.1%. Net profit, however, has risen 16% during the same period.

Post-transaction, the promoter holding is expected to fall below 30%. If the entire 7.8% stake is sold, the shares will be subject to a two-year lock-in.

This marks Patel's second major stake sale in a year. In September 2023, he had sold a 12% stake at ₹4,633 per share.

Since then, Voltamp's stock touched an all-time high of ₹14,880 in August 2024 but has since corrected sharply, down 25% year-to-date and 46% from its 52-week high. Despite this, the stock is still up 66.3% since the last block deal in September 2023.