Krishna Prasad Chigurupati sold a significant stake in Granules India on Friday (Representative image)
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.
1,32,95,129 shares changed hands in the morning session at 872.50 apiece, aggregating to about 1,160 crore, according to block deal data uploaded on National Stock Exchange. 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. 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.
