Promoter Kunjal Patel has offloaded 7.8 percent equity stake in Voltamp Transformers for nearly Rs 600 crore via open market transactions on September 9.
The share price dropped 3.53 percent to Rs 7,503, the lowest closing level since May 9 this year, on the NSE and closed below the lower line of Bollinger bands, extending downtrend for fourth consecutive session.
Kunjal Lalitkumar Patel has sold 7,88,686 equity shares (equivalent to 7.8% stake) in the power transformer maker at Rs 7,605.91 per share, valued at Rs 599.86 crore.
CNBC-Awaaz reported on September 8 that promoter Kunjal Patel was likely to sell up to 7.88 lakh shares in the company via block deals.
On other side, Aditya Birla Sun Life Insurance Company, Prudential Assurance Company, UTI Small Cap Fund, Bajaj Allianz Life Insurance Company, and Citigroup Global Markets Mauritius were buyers for some of the shares sold by promoter, picking 4,77,770 shares (4.72 percent stake) in Voltamp for Rs 363.33 crore.
Amongst them, Prudential Assurance Company was the largest buyer with 1.5 percent stake for Rs 115.6 crore, followed by Bajaj Allianz Life Insurance Company which acquired 1.29 percent shares for Rs 99.6 crore.
The total promoters shareholding in Voltamp was 37.8 percent as of June 2025, while UTI Mutual Fund, and Aditya Birla Sun Life Insurance Company, which were the buyers in the above block deals, held 1.16 percent and 1.36 percent stakes in the company.
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