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Friday, 31 August 2012
Invest India Part Offloads Stake In Hinduja Ventures
Invest India Mauritius Limited partly sold stake in Hinduja Ventures by selling 193147 shares on NSE and 190000 shares on BSE.
On NSE the fund sold the shares for R357.55 per share amounting to R6.90 Cr and on BSE the sale was conducted at R356.13 per share aggregating to R6.76 Cr thus representing a total sale worth R13.66 Cr.
Amam Ltd A/c Invest-India Mauritius held 3.91% in the company as on June 2012 and thus the current sale was of 1.86% reducing its stake to 2.05%.
Other major stakeholder in the company is Reliance Capital holding 8.47%.
Hinduja Ventures Ltd (formerly known as Hinduja TMT Ltd.) is in the business of media, real estate and capital to incubate and nurture new business ventures. The company operates in three business segments, namely Convergence Activities, Real Estate and Treasury.
Convergence Activities is classified into two sub-segments: IT and media & communications, real estate activities comprise of property developments and treasury segment is mainly regarding deployment of surplus funds and existing stock in trade/ investments in shares and securities, other than subsidiaries.
It is part of the conglomerate Hinduja Group headquartered in London, U.K.
Apart from this transaction, another Hinduja group company – Hinduja Foundries also witnessed a selling by Amas India Investment Mauritius on the same day.
Not much information was available on Invest India Mauritius.
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