Granules India has informed exchanges that promoter Dr. Krishna Prasad Chigurupati sold 1,72,00,000 equity shares of the company on September 11, 2026, via a combination of a block deal and open market trades.

The sale drew interest from several prominent institutional buyers, including Capital Group, Kotak Mahindra Life Insurance Company, ChrysCapital, and Allspring, alongside a mix of other domestic and international investors.

The company stated that the share sale was carried out to finance the second tranche of its ongoing preferential allotment and to back the next stage of its growth plans, consistent with the objectives outlined for the issue.

Granules India noted that proceeds from the preferential issue floated in February 2026 have already been put to use, with growth initiatives progressing faster than initially planned. 

As a result, the funds were utilized well ahead of schedule, even as the deployment remained fully consistent with the purposes disclosed when the issue was launched.

Post-transaction, the combined stake held by the Promoter and Promoter Group in Granules India fell from 38.02% to 31.08% of the company's paid-up equity capital.

Calculated on a diluted basis, the promoter and promoter group's combined holding works out to 37.39%.

Dr. Chigurupati's own shareholding as a promoter fell from 31.00% to 24.06% as a result of the sale.