India:Premji buys 4% in silk yarn and fabric maker Himatsingka Seide
Author:
admin
PublishDate:
2005-11-28 13:38:00
Hit:
355
Wipro Chairman Azim Premji on Nov.10 acquired a 3.76 per cent stake in silk yarn and fabrics maker Himatsingka Seide for Rs 108.80 crore. Premji bought eight lakh shares of the company at Rs 136 a share from Arsaig Partners Asia Pte in a block deal.
The Himatsingka stock closed at Rs 137 on the BSE today with 8.75 lakh shares traded against a two-week average volume of 1.45 lakh shares.
Himatsingka Seide, with an equity capital of Rs 19.117 crore, had reported a net profit of Rs 46.40 crore in 2004-05. On September 30, 2005, Indian promoters held 61 per cent stake in Himatsingka. Institutional investors held 14.53 per cent stake, and Indian public 19 per cent.