The promoters of FMCG major Dabur India are looking to sell shares worth $100 million or approximately Rs 800 crore via a block deal on December 20, CNBC Awaaz reported, citing sources.
The promoters are considering to sell the stake at up to four percent discount as against the market price, the sources said, adding that Goldman Sachs will be the broker for the block deal.
The company's shares, at the end of market hours on December 19, were priced at Rs 587.15 apiece at the BSE, which was 1.27 percent higher as compared to the previous day's close.
As of September 30, 2022, the promoter and promoter group of Dabur India, which comprises of 26 shareholders, cumulatively held a 67.24 percent stake in the company. The public shareholders held the remaining 32.76 percent of the shares.
The Burman family, who are promoters of the company, hold the controlling stake.
In the September quarter, Dabur India posted a net profit of Rs 490.86 crore, which was 2.85 percent lower as against the year-ago period. Its revenue, however, surged by 6 percent year-on-year in Q2FY23 to Rs 2,986.49 crore.
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