Dabur promoters to sell shares worth Rs 800 crore in block deal

Goldman Sachs is the broker managing the block deal

Dabur, Dabur news, Dabur latest, Dabur latest news, Dabur India, Dabur stake sale, Burman family, Dabur Block deal
Dabur India has a market capitalisation of Rs 1.04 trillion

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.

Also Read: Dabur sharpens focus on F&B to beat inflation

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.

Also Read: Dabur to take digital route to launch new products

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.

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First published on: 20-12-2022 at 03:25 IST
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