Vadilal family drama: Will promoter stake sale buzz melt turnaround plans?

Vadilal Industries, which has seen renewed investor interest over the past year, is facing some issues following the news that one of the promoters wants to sell stake and exit the company

Just when eight-decade-old ice-cream maker, the Gujarat-headquartered Vadilal Industries was getting its act together by reducing debt, improving inventory planning and enhancing distribution reach, news of one of the promoters wanting to exit the company by selling his stake as a fallout of a family feud might throw a spanner in the works for the company’s future growth prospects. 

The Vadilal Industries’ share price on the BSE has doubled in the past year, touching Rs 1,032 on Monday. News of the stake sale, however, affected the stock. It ended day’s trade at Rs 984.85 a share on BSE on Tuesday. 

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