Dabur India promoters are looking to sell shares worth almost Rs 800 crore ($100 million) via a block deal on Monday, according to television reports.
The sources told a news channel that the promoters could sell the stake at a discount of 4% to the market price. They added that Goldman Sachs is the broker managing the block deal.
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As of September 30, the promoter and promoter group of Dabur India — comprising 26 shareholders — held a 67.24% stake in the company, according to BSE data. Public shareholders hold the remaining 32.76%. The controlling stake is held by the Burman family.
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Dabur shares closed the session up 1.54% at Rs 588.75 apiece on Monday. The company has a market capitalisation of Rs 1.04 trillion. According to the sources, Dabur India posted a consolidated net profit of Rs 490.86 crore in the September quarter, 2.85% lower than the year-ago period. Its revenue surged 6% year-on-year in Q2FY23 to Rs 2,986 crore.