Prabhat Dairy’s promoters have increased their stake in the company by 4.57% to 45.49% through creeping acquisition in last two months. The Nirmal Family Trust, owned by the company’s promoters has acquired 44.72 lakh shares for about Rs 58 crore.
SEBI allows consolidation of holdings through creeping acquisition of 5% in a financial year by persons holding above 15% but below 55%.
The Nirmal Family Trust bought 15.97 lakh shares and 26.49 lakh shares at Rs 128.75 in two tranches on February 28 and followed it with purchase of 1.02 lakh shares for Rs 135.94 and 1.22 lakh shares for Rs 135.74 in two separate transactions on March 2.
