KPR Mill Stakeholders Shake Up: Shares Divested and Acquired

In a significant move, three promoters of KPR Mill reduced their stake in the company by 3.16% by selling shares worth Rs 1,231 crore through open market transactions on Wednesday.

BSE data revealed that KPD Sigamani, K P Ramasamy, and P Nataraj offloaded a total of 1.08 crore shares from the Coimbatore-based manufacturing giant, affecting a considerable change in the company's stakeholder dynamics.

The sale priced between Rs 1,140.10 and Rs 1,140.33 per share has reduced the group's combined stake from 70.68% to 67.52%, while ICICI Prudential Life Insurance acquired 0.51% stake for Rs 200 crore. Other buyers remain unidentified as shares fell 2.83% to Rs 1,195.35 on the BSE.

(With inputs from agencies.)