Shares of KPR Mill Ltd fell by 3% after promoter KP Ramaswamy sold 10.5 million shares, representing a 3.1% stake in the company. The transaction, valued at ₹971.4 crore, took place on Wednesday, with the shares sold at an average price of ₹925.12 each. Meanwhile, SBI Mutual Fund emerged as a key buyer, acquiring 9.74 million shares at ₹925 per share.
KPR Mill, based in Coimbatore, Tamil Nadu, is a prominent vertically integrated apparel brand in India. The company specializes in producing a wide range of textile products, including ready-made knitted apparel, cotton-knitted fabric, and cotton yarn. It is recognized as one of India’s fastest-growing textile companies.
The company has a significant manufacturing capacity, with its spinning division operating 3,54,240 spindles, yielding around 1,00,000 MT of yarn annually. Its knitting segment can produce 40,000 MT of fabric per year, and its dyeing unit processes 25,000 MT annually. In the garments sector, KPR Mill manufactures approximately 147 million pieces of ready-made knitted apparel each year, along with 10,500 MT of Vortex Yarn through 37,968 spindles in its Vortex segment.
By 11:23 am, KPR Mill’s shares were trading 2.62% lower at ₹979.20 on the NSE.
