Warhol Ltd has increased its stake in NCC Ltd (erstwhile Nagarjuna Construction Company Ltd) from 3.59 per cent to 5.14 per cent by acquisition of additional shares through market. Warhol Ltd (Mauritius)' a ChrysCapital's entity, bought these shares in two tranches on May 23 from secondary market purchases, according to a disclosure made to the stock exchanges.

The NCC stock closed the day's trade at Rs 85.25, down 1.27 per cent against previous close of Rs 86.35.

Under disclosure norms, whenever the holding crosses five per cent, 10 per cent and 14 per cent of the total capital of the company, it is necessary to intimate to the stock exchanges within two days.

The fresh acquisition by Warhol of about 40 lakh equity shares at Rs 87.50 a share through bulk deal on the BSE and NSE amounted to Rs 35 crore..

Earlier this month also, Warhol bought 68 lakh shares of NCC on the NSE at Rs 98.99.

There has been considerable interest in the Hyderabad-based infrastructure company in the last few weeks from foreign institutional investors. Norges Bank (Central Bank of Norway) and Citigroup have increased their stake in the company through market purchases. However, HSBC Global Investment Funds and some of its associate group investment firms have been paring their exposure in NCC lately. At the end of March, HSBC Global Investment Funds Mauritius Ltd — GDR was holding 7.37 per cent or 1.89 crore shares in the company.

According to March-quarter ending shareholding pattern, promoters hold 20 per cent stake while foreign institutional investors 38.38 per cent and domestic institutions are holding 15.94 per cent. Retail investors stake stood at 4.62 per cent while that of high net worth individuals at 6.87 per cent.

Some of the prominent shareholders include, Copthall Mauritius Investment, Blackstone GPV Capital Partners Mauritius V-A Ltd, Dimensional Fund Advisors Emerging Market Strategy, Rekha Jhunjhunwala and Jhunjhunwala Rakesh Radheshyam.

Related Topics
comment COMMENT NOW