Granules India block deal: 5.3% equity worth Rs 1,160 crore changes hands; promoter likely seller

The latest market report highlights that A large block deal took place in Granules India on Friday, with roughly 5.3 percent equity stake in the pharmaceutical firm changing hands for Rs 1,160 crore. Around 1.33 crore shares were sold at Rs 872.5 apiece in the block deal window, a discount of around 3 percent to Granules India's previous closing price of Rs 899.25.

The transaction comes after notes on Thursday stated promoter Krishna Prasad Chigurupati was looking to sell up to 1.72 crore shares, or a 6.94 percent stake, through a block deal worth around Rs 1,500 crore. The floor price for the proposed transaction was set at Rs 872.5 per share, with IIFL acting as the sole broker.

The noted offer additionally carried a 180-day lock-in period restricting any further share sale by the promoter.

Chigurupati held around 31 percent in Granules India as of the end of the June 2026 quarter. Based on the 1.33 crore shares that changed hands on Friday, the transaction represents a sizeable reduction in the promoter's holding, assuming he was the seller in the block deal.

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Granules India shares closed 1.63 percent elevated at Rs 899.25 on Thursday. The stock has rallied around 45 percent so far in 2026, sharply outperforming the Nifty 50, which has declined around 10.2 percent over the same period. The firm had a market capitalisation of around Rs 22,200 crore at Thursday's close.

The stake sale comes after a firm fiscal first quarter performance by the generic drugmaker. Granules India noted a 60 percent year-on-year climb in net earnings to Rs 179.96 crore for the first quarter of FY27, while topline from operations increased 22 percent to Rs 1,476.8 crore.

Expansion was supported by a elevated contribution from complex generics as well as Europe and other international markets. Complex generics accounted for 50 percent of finished-dosage sales during the quarter, up from 39 percent a year earlier. The firm's gross margin stood at 65.6 percent, while EBITDA margin was 22.9 percent.