Jhunjhunwala's Rare Enterprises buys Rs 11.50-crore Radico shares

MUMBAI: Ace investor Rakesh Jhunjhunwala's Rare Enterprises today acquired 6.85 lakh shares of liquor firm Radico Khaitan for about Rs 11.50 crore through open market route.

According to bulk deal information available with BSE, Rare Enterprises bought a total of 685,112 shares (amounting to 0.5 per cent shareholding) of Radico Khaitan.

However, the seller of the shares could not be immediately ascertained.

Radico Khaitan shares were purchased for an average price of Rs 167.75 apiece, amounting the transaction to a little over Rs 11.49 crore.

Yesterday, foreign fund house Morgan Stanley Asia Singapore had acquired nearly 20.47 lakh shares (amounting to 1.5 per cent stake) of Radico Khaitan for an estimated Rs 32.68 crore through open market transactions.

Radico Khaitan is one of India's oldest and leading liquor manufacturers.

Shares of Radico Khaitan rose 3.03 per cent to settle the day at Rs 164.70 apiece on the BSE today.