Shares of KPR Mill Ltd fell sharply by over 5% on Wednesday, trading at ₹1,162.60, following news that three of its promoters are set to offload a 3.2% stake through block deals. The proposed transaction is expected to fetch around ₹1,195.6 crore, according to a CNBC-TV18 report citing sources.
The promoters—KP Ramasamy, KPD Sigamani, and P Nataraj—will collectively sell 1.08 crore shares of the company. The floor price for the deal is fixed at ₹1,107 per share, representing a nearly 10% discount to the stock’s closing price of ₹1,226 on Tuesday.
Market sources indicated that IIFL Finance is brokering the deal.
As of 9:20 AM, the stock had declined ₹67.70 or 5.50%, reflecting investor concern over the discounted sale and potential near-term supply overhang.
The stock’s intraday range was ₹1,143 to ₹1,174, with over 1.11 million shares traded. KPR Mill currently has a market capitalization of ₹396.57 billion and trades at a P/E ratio of 48.65.
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