India's GMM Pfaudler hits 1-yr low after PE fund sells stake

Gmm Pfaudler

18/08/2023 09:01

** Shares of GMM Pfaudler  GMMP.NS  fall as much as 9.6% to
1,376 rupees, hitting lowest level since July 28, 2022
    ** Stock marks sharpest intraday pct loss since Dec. 16
    ** German PE firm DBAG Fund VI sells 13.6% stake in co
through bulk deals - GMMP
    ** ChrysCapital buys 9.9% stake in co, while 3.7% stake has
been purchased by other investors- GMMP
    ** Patel family, co's largest shareholder, reiterates
commitment to purchase remaining 1% stake from DBAG Fund VI at
1,700 rupees/share as agreed before - GMMP
    ** 385,362 shares traded via three-block deals in price
range of 1376-1418.15 rupees as of 1:02 p.m. IST -Refinitiv data
    ** Earlier, DBAG sold 17.32% stake in co via bulk deals in
Dec. 2022
    ** GMMP pares most losses, last down 1.6%
    ** More than 2.5 mln shares traded, 12x the 30-day avg 
    ** Stock down 3.9% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))