HYDERABAD: Krishna Prasad Chigurupati, the promoter of Hyderabad-based Granules India, offloaded a nearly 7% (1.72 crore shares) stake in the company on Friday through block deals and open-market transactions, raising over 1,160 crore just via 22 block deals to support the drugmaker’s ongoing growth plans.According to block deal data uploaded on National Stock Exchange, 1,32,95,129 shares changed hands in the morning session at 872.50 apiece, aggregating to about 1,160 crore.The transaction price represented a discount of nearly 3% to Thursday’s NSE closing price of 899.25.Even if one considers the sale price for all the 1.72 crore shares to be 872.5, the total value of the stake sale adds up to over 1,500 crore.
Deal draws nearly 2 dozen investors
In a stock exchange intimation, Granules said that it had received communication from Chigurupati regarding the sale of 1.72 crore equity shares on September 11, 2026, through a block deal and open market.The company said the transaction attracted participation from nearly two dozen investors, which included institutional investors such as Capital Group, Kotak Mahindra Life Insurance Company, ChrysCapital, Allspring, as well as other domestic and global investors.The largest chunk of over 34.7 lakh shares aggregating to 303 crore was picked up by Smallcap World Fund Ind, followed by BNP Paribas Financial Markets that bought nearly 13.2 lakh shares for 115 crore.On the other hand, Goldman Sachs Bank Europe SE bought over 11.7 lakh shares at 102 crore and Kotak Mahindra Life Insurance Company acquired over 11.5 lakh shares at around 100 crore.The other block deals were below 100 crore.It is learnt that the deal carries a 180-day lock-in period for any further sale of shares by the promoter.Granules said the stake sale was undertaken to fund the second tranche of the company’s ongoing preferential issue and to support the next phase of growth initiatives in line with previously stated objectives.It said that funds raised through the preferential issue in Feb 2026 had already been deployed and the identified initiatives had been executed faster than originally envisaged.Following the transaction, the aggregate shareholding of the promoter and promoter group has declined to 31% of paid-up equity share capital from 38% and Chigurupati’s individual promoter holding has fallen to 24% from 31.00%.Granules shares closed at 909 on BSE after hitting an intraday 52-week high of 914 on Friday.
