Pfaudler Inc. sells 17.32% stake held in GMM Pfaudler

GMM Pfaudler announced stake sale by Pfaudler Inc. (controlled by DBAG Fund VI, a private equity fund; 'DBAG') through bulk deals. Pfaudler Inc. (controlled by DBAG Fund VI, a private equity fund; DBAG) has sold 77,85,819 equity shares (17.32%) of the company through bulk deals at Rs 1700 per share. DBAG has been a financial investor in the company since 2014.

Post the sale, Patel family has become the single largest Promoter shareholder in the company. Patel Family has entered into an arrangement to purchase 4,49,572 equity shares (1%) from Pfaudler Inc. (DBAG) at Rs 1700 per share, subject to regulatory approvals, through an inter-se promoter transfer.

 

As a result of the bulk deals, shareholding of foreign and domestic institutional investors has increased.

Tarak Patel, Managing Director said, The Patel family has now become the single largest promoter shareholder of the company after 34 years; with this milestone, life has come a full circle. We have reiterated our commitment to the business by increasing our stake and will continue to actively manage the company going forward.

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