
Privi Specialty Chemicals Limited is likely to witness up to 6.32% stake sale through a block deal, stated the sources. The total size of the deal is expected to be around ₹700 Crore.
The floor price for the transaction has been fixed between ₹2,835-2,850 per share. This represents a discount of 11.14% to the current market price (CMP).
The brokerages stated that Privi Specialty Chemicals is in a suitable position to benefit from growth in the global aroma chemicals market. This is expected to reach $9.2 Billion by 2030.
Planned expansion and the stated merger with Privi Fine Sciences bolster its green chemistry and high-margin product portfolio. Motilal Oswal expects strong revenue and EBITDA compounding over FY25–28 and values the stock at ₹3,960, registering an uptick of about 21%.
Earlier in June this year, four promoter companies of Privi Specialty Chemicals offloaded aggregate 4.09% stake through open market transactions. The combined value of this deal stood at ₹330 Crore.
As per the bulk deal data disclosed by NSE, Privi Speciality Chemicals’ promoters — Bhaktavatsala Rao Doppalapudi, Vijaykumar Doppalapudi, Vinaykumar Doppalapudi Rao and Vivira Investment and Trading were the identified sellers in this deal.
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