Find out why Macrotech Developers is buzzing in trade

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Macrotech developers is buzzing in trade on the back of inter se promoter transfer.

Macrotech developers is buzzing in trade on the back of inter se promoter transfer.
There is an inter promoter transfer of 13 crore shares by the promoters. The announcement says that there is an Inter se promoter transfer at a price of Rs 860 per share, which is 26 percent higher than yesterday’s closing market price. They will be transferring 13 crore shares from one promoter entity to the other.
HCPL will be acquiring 10.9 crore shares from Sambhavnath Infrabuild and Farms Private Ltd, and 2.1 crore shares will be acquired by HDFPL from the same entity.
Sambhavnath Infrabuild and Farms Private Ltd is listed as the promoter of the company and the other two companies, HCPL and HDFPL, are wholly-owned subsidiaries of this company.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.

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