Religare Finvest ups stake in Parsvnath to 5.27 per cent

NEW DELHI: Religare Finvest Ltd has increased its stake in realty firm Parsvnath Developers to 5.27 per cent from 4.5 per cent earlier.

In a filing to the Bombay Stock Exchange, Parsvnath said that Religare Finvest has now reached to 2,29,41,954 shares in the company from earlier 1,96,20,632 shares.

Yesterday, Religare acquired over 33 lakh shares amounting to 0.76 per cent. The mode of acquisition was "shares transferred by client as a security/margin for the loan against securities facility", it added.

Religare Finvest is a non-banking financial company (NBFC).

As per the shareholding pattern at the end of the first quarter of this fiscal, Religare Finvest held 44,86,156 shares amounting to 1.03 per cent stake. Promoters had 68.21 per cent stake in the company as on June 30, 2011.