Summary:
Voltamp Transformers promoter Kunjal Patel is set to pare his holding by nearly 7% through a block deal worth around $67 million. While the stake sale comes after a muted June quarter, the company remains optimistic on future growth with a healthy order book in place.
Promoter to Offload 7% Stake
Promoter Kunjal Patel is preparing to sell up to 7.88 lakh shares, translating to about 7% equity in Voltamp Transformers via a block deal. The transaction, estimated at $67 million, is being handled by Nuvama Wealth Management.
Pricing and Timeline
The shares are offered at a floor price of ₹7,600 apiece, a slight discount to the previous close of ₹7,777.50. The offer window opens on September 8, with trades to be executed on September 9 and settled the following day. Patel, who currently owns 37.8% of the company, will remain a key shareholder even after the sale.
Lock-In Clauses
The entire stake put on sale will be subject to a two-year lock-up period, while any unsold shares will face a one-year lock-in.
Business Performance Snapshot
Voltamp’s June quarter results were relatively subdued, with net profit flat at ₹79.5 crore, revenues slipping 1.1% YoY to ₹423.6 crore, and EBITDA declining 2.8% to ₹72.7 crore. Margins narrowed slightly to 17.2%.
Positive Outlook
Despite weak earnings, management highlighted strong demand momentum, with order volumes up 33% YoY and order value growing 17% since April. The company now has a revenue visibility of ₹1,685 crore for FY25, including Q1 figures.
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