Shares of SRF Ltd were in focus on Tuesday after promoter Kama Holdings Limited said its board has approved the disposal of up to 3% of the paid-up share capital of SRF through open market transactions.
As per the regulatory filing, the proposed stake sale, subject to shareholder approval through a special resolution, may result in Kama Holdings’ shareholding in SRF falling below 50%.
The disposal is expected to be completed by March 31, 2027. The company clarified that the transactions will be executed in the open market and no promoter or promoter group entity will be part of the purchase.
Following the announcement, SRF shares slipped to an intraday low of ₹2,747.10. The stock closed at ₹2,735.80, down ₹112 or 3.93% on the NSE.
Also Read: SRF Q3 results: Profit up 60%, beats estimates despite labour code impact; dividend declared
The development comes weeks after SRF reported a strong set of December quarter results, beating CNBC-TV18 estimates. Net profit rose 59.7% year-on-year to ₹432.7 crore, while revenue increased 6.3% to ₹3,712.5 crore. EBITDA climbed 26% to ₹780 crore, with margins improving marginally to 21% from 20.9% a year ago.
SRF is a diversified chemicals conglomerate with interests spanning specialty chemicals, fluorochemicals and packaging films.
