Jubilant Group initiates block deals; Bhartia family to offload stake across key listed entities
In a significant market development, the Bhartia family, promoters of the Jubilant Group, is set to offload stakes in three of its listed companies via block deals, according to sources cited by Yatin Mota and CNBC Awaaz. Jubilant FoodWorks
A major portion of the transaction involves Jubilant FoodWorks, where the promoters will sell 2% stake, amounting to 1.32 crore shares. The floor price has been fixed at Rs 641 per share, and Morgan Stanley is reportedly managing the deal. Other Group Companies Jubilant Pharmova : Around 56 lakh shares are expected to be offloaded.
Jubilant Ingrevia: Approximately 1.2 crore shares will be sold.
These strategic block deals come at a time when the group may be looking to rebalance holdings or raise funds for business needs. Market participants are closely watching the implications of this multi-company stake sale, especially given the group's significant presence in the food, pharma, and chemical sectors.
More details are awaited as the deals are executed on the bourses.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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