KPR Mill shares in focus as promoters plan to sell 3.2% stake via block deals to raise Rs 1,196 crore
KPR Mill shares
will be in focus on Wednesday as three promoters plan to sell up to 3.2% stake via
block deals
, aiming to raise Rs 1,195.6 crore, CNBC-TV18 reported citing sources.
The floor price for the transaction is set at Rs 1,107 per share, nearly 10% lower than the stock's closing price of Rs 1,226 on May 20.
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Promoters KP Ramasamy, KPD Sigamani, and P Nataraj will participate in the
stake sale
. CNBC Awaaz reported that
IIFL Finance
is brokering the deal, which involves 1.08 crore shares.
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As of March 2025, each of the three promoters held a 20.34% stake in the company. Collectively, they own a little over 61%, while total promoter holding stood at 70.68%. Post-sale, their cumulative stake will reduce to 57.82%.
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KPR Mill
has a market cap of about Rs 42,000 crore. Earlier this month, the company posted a 4% YoY decline in Q4 net profit at Rs 204.55 crore, while revenue slipped 4% to Rs 1,769 crore. The board declared a final dividend of Rs 2.5 per share for FY25.
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KPR Mill share price target
According to Trendlyne, the average target price for KPR Mill is Rs 1,049, implying a 15% downside. Among seven analysts tracking the stock, the consensus rating is 'Buy.'
KPR Mill shares price performance
The stock has gained 48% in the past three months and 115% over the past two years. The company's market capitalisation stands at Rs 42,049 crore.
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(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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