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EID Parry looks to sell up to 2% stake in Coromandel International

Updated : May 28, 2020 08:17 PM IST

Sugar manufacturer EID Parry is looking to sell 2 percent stake in Coromandel International via block deal, CNBC-TV18 has learnt.

According to sources, who requested anonymity, EID Parry owns 60.47 percent stake in Coromandel International and Coromandel’s current marketcap is close to Rs 20,000 crore, so 2 percent stake will mean they will get close to Rs 400 crore.

EID is looking to make the company completely debt free by raising this money by selling a stake in Coromandel International.

CNBC-TV18’s Nimesh Shah has all the exclusive details.

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