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Our Bureau

New Delhi , May 8

Fidelity International has purchased a 0.7 per cent stake in Satnam Overseas Ltd.

This acquisition has taken the Fidelity group's total stake to 8.74 per cent in the company.

Post this transaction, the promoters' shareholding in Satnam Overseas is 44.12 per cent, domestic institutions hold 8.63 per cent and FIIs' 8.74 per cent.

According to Mr Gurnam Arora, Managing Director, Satnam Overseas Ltd: "Fidelity picking up additional stake in the company once again proves the significant growth potential of Satnam Overseas. We have reported consistent growth in revenues for last two years. We have also de-risked our business model by foraying into ready to eat food segment."

The company has recently announced setting up of a frozen food processing facility in Sonepat, Haryana.

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