DBAG Fund VI Sells 13.6% In GMM Pfaudler With 9.9% Stake Bought By ChrysCapital

DBAG Fund VI Sells 13.6% In GMM Pfaudler With 9.9% Stake Bought By ChrysCapital

The company in the regulatory filing also said, DBAG’s nominee directors, Malte Woweries and Harsh Gupta, have tendered their resignation as of August 18, 2023.

FPJ Web DeskUpdated: Friday, August 18, 2023, 01:06 PM IST
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DBAG Fund VI Sells 13.6% In GMM Pfaudler With 9.9% Stake Bought By ChrysCapital | File

Pfaudler Inc., ultimately held by DBAG Fund VI, has sold a 13.6 per cent equity stake in GMM Pfaudler Limited through bulk deals, the company announced through an exchange filing. From the shares sold 9.9 per cent equity stake of the Company has been purchased by funds affiliated with ChrysCapital, a leading India focussed investment firm with US$5.0 Bn in AUM while 3.7% equity stake of the Company has been purchased by other investors.

The company in the regulatory filing also said, DBAG’s nominee directors, Malte Woweries and Harsh Gupta, have tendered their resignation as of August 18, 2023.

The Patel family continues to remain the largest shareholder of the Company and reiterates its commitment to purchase the remaining 1 per cent equity stake from DBAG Fund VI at ₹1,700 per share as agreed in December 2022, subject to regulatory approvals.

GMM Pfaudler shares

The shares of GMM Pfaudler on Friday afternoon at 1:01 pm IST were trading at 1,505, down by 1.13 per cent.

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