The Hindu Business Line : Foreign holding in Aptech goes up to 51 pc

IN just about a quarter, the overall foreign shareholding including foreign institutional investor (FIIs) stake in Aptech Ltd has increased from barely 6.63 per cent of the total capital to about 51 per cent, and the Indian public holding dipped by about 16 per cent.

Late last month, CGM Mauritius Capital Private Ltd, reportedly acquired 32,00,000 shares amounting to about 9.55 per cent of the total paid-up capital of the company after the conversion of global depository receipts.

Consequently, the overall holding of CGM Mauritius has shot up to 9.68 per cent of the total paid-up capital. Citibank NA had intimated the National Stock Exchange about the CGM Mauritius acquisition of shares.

For the quarter ended December 31, 2003, the total holding increased from 6.63 per cent or 12,02,277 equity shares to about 50.97 per cent amounting to 1,70,80,053 equity shares.

The significant change in the shareholding pattern is reflected from the GDRs which were merely 1.01 per cent in the second quarter and had increased to 46.35 per cent in the third quarter. During this period, Matterhorn Ventures, which had about 3.03 per cent of the total equity, had brought down the holding to 1.64 per cent. While Indian promoters led by SSI Ltd hold about 25.75 per cent, mutual funds, banks and financial institutions have pared their exposure marginally.

Life Insurance Corporation of India, which had about 3.29 per cent holding, has brought it down to 1.78 per cent last quarter.

Significantly, the total Indian public holding, which was about 33.70 per cent or 61,15,621 shares during the second quarter, has come down to 16.79 per cent equivalent to 56,27,754 shares during the quarter ended December 31, 2003.

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