Patel Family completes acquisition of 1% stake through inter-se transfer
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Highlights
* The Patel Family (through Millars Machinery Company Pvt Ltd) have completed acquisition of 1% equity stake in GMM Pfaudler Ltd from Pfaudler Inc. (ultimately held by DBAG Fund VI, a private equity fund advised by Deutsche Beteiligungs AG) by way of an off market inter-se transfer between promoters at ?1,700 per share with 75% of the consideration being paid upfront and remaining 25% to be paid on or before March 15, 2024.
* The Patel Family’s shareholding now stands at 25.18% and they remain the largest shareholder of the Company.
