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.