Granules India rose over 5.5% today morning to hit a new high at Rs.135.85. Volumes were also pretty robust, jumping up over 2 times.
The stock is up on unconfirmed news that some PE funds like Blackstone, KKR, Apax, Bain and Advent are at early stages of discussion with the company to acquire the company.
The founding promoter, Chigurupati family holds 43% stake and through Kotak Mahindra Capital it is supposedly scouting around for selling their stake.
Economic Times broke this news and stated in its report that the promoters are looking at a valuation of around Rs.4000 crore.
There is no official word about this from the company