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Jhunjhunwala buys 4.5% in Geometric; hikes stake to 14.55%

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Mumbai:

Ace investor Rakesh Jhunjhunwala today purchased a 4.5 per cent stake in Godrej group firm Geometric Ltd from a foreign fund of Credit Suisse for about Rs 30 crore.

With today's purchase of 28.26 lakh shares, the cumulative holding of Rakesh and his wife Rekha Jhunjhunwala has risen to 14.55 per cent.

The shares of the company today surged by 7.5 per cent to close at Rs 116.25.

The shares were purchased by Rakesh Jhunjhunwala in a bulk deal at the BSE at a price of Rs 106 a piece and accounted for a 4.5 per cent stake in the company.

As on June 30, 2012, Rakesh Jhunjhunwala had 8.47 per cent holding in Geometric Ltd as the single biggest non-promoter shareholder, while 1.58 per cent stake was held by Rekha Jhunjhunwala.

As per BSE's bulk deal data, shares were sold by Credit Suisse (Singapore) Ltd, which is believed to have sold its entire stake in today's deal.

Geometric is a Godrej group company present in engineering solutions, services and technology businesses and the promoters held 37.4 per cent stake at the end of last quarter.

Other major non-promoter shareholders of the company as on June 30, 2012 included IDBI Trusteeship Services (6.17 per cent), Royal Bank of Scotland (4.6 per cent) and LIC (2.34 per cent).

Story first published on: September 20, 2012 21:19 (IST)

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