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Article: India : Nalanda Capital Picks Up Additional 2.2% Stake in Berger Paints.
- Article from:
- TendersInfo
- Article date:
- August 17, 2009
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Byline: Mamta03
The company s scrip rose 6.5% to close at Rs 47.9 at NSE on Friday.
Singapore-based Nalanda India Fund is picking an additional 2.2% stake in Berger Paints to hike its existing holding to around 5.8%. Although the price at which Nalanda would subscribe to the fresh shares is not clear, at current market price it would have to shell out around Rs 34.5 crore.
As of June 30, Nalanda held 3.7% in Berger Paints. According to a disclosure made to the stock exchange Berger Paints will issue up to 7.2 million equity shares of a face value of Rs 2 each at a price not lower than the minimum price specified as per Sebi guidelines for ...