11 Sep , 2026 By : Debdeep Gupta
A large block deal took place in Granules India on Friday, with roughly 5.3 percent equity stake in the pharmaceutical company changing hands for Rs 1,160 crore. Around 1.33 crore shares were sold at Rs 872.5 apiece in the block deal window, a discount of around 3 percent to Granules India's previous closing price of Rs 899.25.
The transaction comes after reports on Thursday said promoter Krishna Prasad Chigurupati was looking to sell up to 1.72 crore shares, or a 6.94 percent stake, through a block deal worth around Rs 1,500 crore. The floor price for the proposed transaction was set at Rs 872.5 per share, with IIFL acting as the sole broker.
The reported offer also carried a 180-day lock-in period restricting any further share sale by the promoter.
Chigurupati held around 31 percent in Granules India as of the end of the June 2026 quarter. Based on the 1.33 crore shares that changed hands on Friday, the transaction represents a sizeable reduction in the promoter's holding, assuming he was the seller in the block deal.
Granules India shares closed 1.63 percent higher at Rs 899.25 on Thursday. The stock has rallied around 45 percent so far in 2026, sharply outperforming the Nifty 50, which has declined about 10.2 percent over the same period. The company had a market capitalisation of around Rs 22,200 crore at Thursday's close.
The stake sale comes after a strong fiscal first quarter performance by the generic drugmaker. Granules India reported a 60 percent year-on-year rise in net profit to Rs 179.96 crore for the first quarter of FY27, while revenue from operations increased 22 percent to Rs 1,476.8 crore.
Growth was supported by a higher contribution from complex generics as well as Europe and other international markets. Complex generics accounted for 50 percent of finished-dosage sales during the quarter, up from 39 percent a year earlier. The company's gross margin stood at 65.6 percent, while EBITDA margin was 22.9 percent.
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