Granules India Ltd

(mrai74) #783

Promoters sold 50 lakh shares to a group of reputed investors in a block deal on the stock exchanges, to mobilize about INR 50 Cr. In addition to it, the promoters are also monetizing personal assets worth up to another 50 Cr., which is expected to be complete shortly

The funds raised through these transactions will be used to reduce promoter leverage by up
to Rs 100 Cr. and which will subsequently bring down the Promoters pledged position to
around 30% from current level of 54%.

(Vilas D'Souza) #784

Any idea on the buyers?

(PK) #785

(mrai74) #786

Good to see that management is walking the talk & have reduced the pledge by almost 35% of total promoter pledge. The pledge during start of quarter was above 6 Cr, which has gone down by 2.15 Cr. Pledge has been the major curse for this scrip & investors can fell fresh life with recent developments.

(csteja) #787

Any idea what’s the financial status of the companies where promoter group invests after pledging Granule shares

(Sunday) #788

(mrai74) #789

Share Holding details ending Q4

The major changes are KP selling almost 2% to reduce the pledge & big change in FII holding… seems KPs stake was bought by them.