A large block deal took place in Granules India on Friday, with roughly 5.3 percent equity stake in the pharmaceutical company changing hands for Rs 1,160 crore. Around 1.33 crore shares were sold at Rs 872.5 apiece in the block deal window, a discount of around 3 percent to Granules India's previous closing price of Rs 899.25.
The transaction comes after reports on Thursday said promoter Krishna Prasad Chigurupati was looking to sell up to 1.72 crore shares, or a 6.94 percent stake, through a block deal worth around Rs 1,500 crore. The floor price for the proposed transaction was set at Rs 872.5 per share, with IIFL acting as the sole broker.
The reported offer also carried a 180-day lock-in period restricting any further share sale by the promoter.
Chigurupati held around 31 percent in Granules India as of the end of the June 2026 quarter. Based on the 1.33 crore shares that changed hands on Friday, the transaction represents a sizeable reduction in the promoter's holding, assuming he was the seller in the block deal.
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