Promoter group sells 7.14% stake via block deal to Thriveni Earthmovers
LLOYDSENGG · price
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On the reaction day the stock moved 3.0 pts more than Nifty Microcap 250 and 3.5 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lloyds Engineering Works promoters and promoter group entities sold 10,57,40,181 shares (7.14% of equity) at Rs 49.65 each in a block deal worth about Rs 525 crore to Thriveni Earthmovers Private Limited. After the deal, Thriveni Earthmovers will hold 9.05% in the company. Thriveni is the investment arm of Mr. Balasubramanian Prabhakaran.
Major promoter exit worth about Rs 525 crore may pressure the stock. A new buyer taking 9.05% stake signals a notable shift in ownership structure.