Promoters sell 5.6% equity of Kalpataru Projects

Kalpataru Constructions Private Limited (KCPL) is the selling entity.

  • The stake has been sold at around Rs 1,164/ share totalling Rs 1,053 cr
  • KCPL prior to this stake sale held 13.76% in the company as at March 31, 2024 (out of the total promoter stake of 40.59%)
  • The stake sale was executed to help cut the pledge shares, promoter debt.

Promoters selling/ pledging their stake has been a regular feature at Kalpataru Projects. It’s mostly to fund their real estate endeavors and hence is not a surprise to many.

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