Mofatraj Munot and Parag Munot, Promoters of Kalpataru Power Transmission Ltd. (KPTL or Company), have sold 69 lakhs equity shares of KPTL, representing 4.46% of KPTL's equity shares, for an aggregate realization of Rs. 306 crores (approximately). The liquidity through sale proceeds will enable the Promoters in making investments in privately held businesses to capitalize on growth opportunities, reducing pledged shares and other purposes.
Following the sale of said shares, the Promoter Group's holding in KPTL will be 54.38%. The Promoter Group will continue to maintain a majority stake in KPTL and do not plan to sell any further shares in foreseeable future.
Shares of KALPATARU POWER TRANSMISSION LTD. was last trading in BSE at Rs.451.05 as compared to the previous close of Rs. 448.5. The total number of shares traded during the day was 833 in over 152 trades.
The stock hit an intraday high of Rs. 452.5 and intraday low of 444.5. The net turnover during the day was Rs. 373655.