IDFC raises stake in Jubilant Industries to 5.14 pc

MUMBAI: Fertiliser and chemical maker Jubilant Industries on Monday said IDFC Mutual Fund has acquired 2.65 per cent stake in the company through open market transactions, taking its total shareholding to 5.14 per cent.

IDFC earlier held 2.49 per cent stake in Jubilant. The company in a filing to the Bombay Stock Exchange (BSE) said IDFC Mutual Fund through its scheme IDFC Small and Mid Cap Equity Fund has made purchase through the open market on July 22, 2011, which was around 2.65 per cent of the paid-up capital of the company.

The total paid-up capital of the company before the acquisition stood at Rs 8.01 crore, it added.

With this fresh acquisition, IDFC's total stake in Jubliant has reached 5.14 per cent.

Jubilant Industries is the flagship company of Jubilant Bhartia group and it produces single super phosphate (SSP), a crop nutrient.

The company also produces industrial chemicals and performance polymers.

Shares of the company today closed at Rs 220, up by 3.48 per cent from previous close on the BSE.