Kotak Mahindra buys 4.99 pc in Vimta Labs

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Our Bureau

Hyderabad, March 29

Kotak Mahindra (UK) Ltd has informed the stock exchanges that New Vernon India Ltd, Premier Investment Fund Ltd and Voyager Fund Mauritius Ltd (sub-accounts of Kotak Mahindra (UK) Ltd) have acquired 11,02,925 shares of Vimta Labs Ltd , the Hyderabad-based contract research and clinical trials company, aggregating to 4.99 per cent of its paid-up capital on March 23.

The mode of acquisition is open market and preferential allotment.

Following this, the shareholding of Premier Investment stood at 1,37,500 shares (0.62 per cent), of New Vernon India at 2,08,705 shares (0.94 per cent) and of Voyager Fund Mauritius 11,02,925 shares (4.99 per cent).

The collective holding of these sub accounts of Kotak Mahindra (UK) after the said acquisition stood at 14,49,130 shares aggregating to 6.55 per cent of total paid-up capital of Vimta Labs.

(This article was published in the Business Line print edition dated March 30, 2006)
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