Promoters of Kalpataru Projects International Ltd (earlier known as Kalpataru Power Transmission) on Tuesday divested 6 per cent of their stake in the firm for Rs 468 crore through open market transactions.
Parag Mofatraj Munot (promoter) and two promoter group entities -- Kalpataru Constructions Pvt Ltd and Kalpataru Viniyog LLP -- offloaded 96.34 lakh shares of Kalpataru Projects International Ltd (KPIL).
According to the bulk deal data available with the BSE, Munot sold 73.24 lakh shares, Kalpataru Constructions disposed of 10 lakh shares and Kalpataru Viniyog offloaded 13.10 lakh shares, amounting to a 5.9 per cent stake in KPIL.
The shares were disposed of in the range of Rs 485.06-485.75 apiece, taking the transaction value to around Rs 468 crore.
Post this latest transaction, the combined shareholding of the promoter and promoter group entities has reduced to 41.31 per cent from 47.24 per cent (as per March 2023) equity in KPIL.
On Tuesday, shares of KPIL jumped 3.09 per cent to close at Rs 522.70 per piece on the BSE.
KPIL is a part of the diversified conglomerate Kalpataru Group.