Mauritius firm offloads residual stake in Simplex

KOLKATA: Mauritius-Based Beethoven has sold off its Simplex Infrastructures holding of 7.49%. With this, the overseas firm has offloaded its entire holding of 14.99% in construction company, Simplex Infrastructures in a short span of nine days.

In a notice to the stock exchanges, the company said, “Beethoven —a wholly owned subsidiary of Chryscapital III LLC —has offloaded 32,12,500 shares representing 7.49 % of Simplex Infrastructures in the open market on November 29 at Rs 405 a piece.

The same day, Templeton Mutual Fund bought some 32,42,350 shares for Rs 404.97 a share.Incidentally, Franklin Templeton Mutual Fund has also picked up stakes in Simplex Infrastructures through its schemes. While Franklin India Opportunities Fund picked up 2.33%, Franklin India Smaller Companies Fund picked up 2.59%, Franklin India Flexi Cap Fund 2.09% and Franklin India Prima Fund 0.55% of Simplex Infrastruc-tures on November 29.

On November 21, the Mauritius firm had offloaded 32,12,500 shares representing 7.49 % of Simplex Infrastructures in the open market at Rs 405 a share, reducing their holding to 7.49%. Some 32,20,000 shares were purchased by Fidelity Management at Rs 404.97.The counter witnessed another block deal on November 22. Societe Generale Asset Management Group’s Fund sold off 50,000 shares at Rs 402.50. The shares were bought by Templeton MF’s Prima Fund.