Promoters and shareholders of TD Power Systems are likely to sell a 24.2 percent stake worth Rs 800 crore via a block deal on Friday (June 30), sources privy to the developments told CNBC Awaaz.
Under the transaction, promoters, and shareholders are likely to offload at a floor price of Rs 214 per unit, which is a 4 percent discount from the last closing, sources close to the development said.
Motilal Oswal is the sole book runner for the sale of shares, sources in the know told CNBC Awaaz. Block deals are large transactions of shares between two parties that are negotiated privately and executed on stock exchange platforms.
The company reported a 43 percent jump in its consolidated net profit at Rs 35.35 crore in the March 2023 quarter year-on-year. The company had recorded a consolidated net profit of Rs 24.66 crore in the quarter ended March 31, 2022.
Total income rose to Rs 256.31 crore in the quarter from Rs 235.59 crore in the same period a year ago. The consolidated net profit in fiscal 2022-23 also rose to Rs 96.81 crore from Rs 70.64 crore in the previous financial year. Total income rose to Rs 892.05 crore in FY23 from Rs 814.13 a year ago.
(Edited by : Shoma Bhattacharjee)
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