Nirmal Family Trust (promoter entity of Prabhat Dairy Limited) has increased its stake in Prabhat Dairy by 4.57% through creeping acquisition in last 2 months.
Nirmal Family Trust has acquired 44.72 lakh shares for nearly Rs 58 crore.
As per SEBI, it allows consolidation of holdings through creeping acquisition of 5% in a FY by persons holding above 15%, but below 55%.
On February 28, Nirmal Family Trust bought 26.49 lakh shares & 15.97 lakh shares in 2 tranches; and followed suit on March 2 with a purchase of Rs 1.02 lakh shares for Rs 135.94 per share & 1.22 lakh shares at Rs 135.74 per share in 2 different transactions.
Prabhat Dairy Limited is an integrated milk and dairy products company. The Company is engaged in the business of procurement and processing of milk and sale of milk and milk products.