HSBC Global offloads shares in Bombay Dyeing for Rs 15 cr
Foreign fund HSBC Global has offloaded 0.58 per cent stake in Nusli Wadia - promoted Bombay Dyeing for an estimated Rs 15.07 crore in open market transactions.
By PTI |
MUMBAI: Foreign fund HSBC Global has offloaded 0.58 per cent stake in Nusli Wadia - promoted Bombay Dyeing for an estimated Rs 15.07 crore in open market transactions.
The foreign fund sold 2.25 lakh equity shares of Bombay Dyeing and Manufacturing Company, thereby reducing its stake in the company to 2.95 per cent, Bombay Dyeing informed the Bombay Stock Exchange.
Calculated as per the closing price of Rs 667.75 on November 28, the date of transaction, the total consideration of the sale amounts to Rs 15.07 crore.
As of September 30, 2007, HSBC Global Investment Funds held four per cent stake in Bombay Dyeing. Two other foreign funds UBS Securities Asia Ltd and Deutsche Securities hold 2.82 per cent and 1.02 per cent stakes respectively in the company.
Shares of Bombay Dyeing closed at Rs 688.15, up 6 per cent, at the BSE.
The foreign fund sold 2.25 lakh equity shares of Bombay Dyeing and Manufacturing Company, thereby reducing its stake in the company to 2.95 per cent, Bombay Dyeing informed the Bombay Stock Exchange.
Calculated as per the closing price of Rs 667.75 on November 28, the date of transaction, the total consideration of the sale amounts to Rs 15.07 crore.
As of September 30, 2007, HSBC Global Investment Funds held four per cent stake in Bombay Dyeing. Two other foreign funds UBS Securities Asia Ltd and Deutsche Securities hold 2.82 per cent and 1.02 per cent stakes respectively in the company.
Shares of Bombay Dyeing closed at Rs 688.15, up 6 per cent, at the BSE.
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