Granules India promoter sells 7% stake for $160M
What's the deal? Krishna Prasad Chigurupati, promoter of Hyderabad-based drugmaker Granules IndiaDealroom has a profile for this one. Try Dealroom →, sold a nearly 7% stake — 1.72 crore shares — on September 11, 2026, raising more than US$203.7M (roughly $160 million) through block deals and open-market transactions.
Who bought in? The sale drew nearly two dozen investors. Smallcap World FundDealroom has a profile for this one. Try Dealroom → took the largest chunk, over 34.7 lakh shares worth US$41.1M, followed by BNP Paribas Financial Markets, Goldman Sachs Bank Europe SEDealroom has a profile for this one. Try Dealroom →, and Kotak Mahindra Life Insurance CompanyDealroom has a profile for this one. Try Dealroom →. Capital GroupDealroom has a profile for this one. Try Dealroom →, ChrysCapital, and AllspringDealroom has a profile for this one. Try Dealroom → also participated.
Why now? Granules said the sale funds the second tranche of its ongoing preferential issue and supports its next phase of growth. Funds raised through a preferential issue in February 2026 had already been deployed, with the company saying its planned initiatives were executed faster than expected.
The details: The 22 block deals priced shares at US$11.8, a nearly 3% discount to Thursday's close of US$12.2. The deal carries a 180-day lock-in on further promoter sales.
What's the impact? Promoter and promoter group holding fell to 31% from 38%, while Chigurupati's individual stake dropped to 24% from 31%. Granules shares closed at US$12.3 on the BSE, after hitting a 52-week high of US$12.4.
The signal: At roughly $160 million, this is a sizeable secondary transaction — ranking in the lower third of comparable deals by amount. The heavy institutional appetite, spanning global and domestic buyers, suggests investor confidence in the drugmaker's growth plans even as the promoter trims its position.
Read more: timesofindia.indiatimes.com
Image credit: Generated with Gemini
