Pabrai Investment Fund buys stake worth Rs 63 crore in Care Ratings
- Country:
- India
Indian-American businessman Mohnish Pabrai's fund Monday bought about 2 percent stake in Care Ratings for nearly Rs 63 crore through open market transactions.
According to the bulk deal data available with the BSE, Pabrai Investment Fund II LP purchased 2.80 lakh shares of the credit rating agency at Rs 1,225.01 apiece for a total amount of Rs 34.26 crore.
The fund also picked up 2.32 lakh shares of Care Ratings at an average price of Rs 1,224.93 for a total sum of Rs 28.46 crore, the bulk deal data with the NSE showed.
On a cumulative basis, the fund bought 5.12 lakh shares, amounting to 1.74 percent stake for a consideration Rs 62.72 crore.
The buyer(s) of the shares could not be ascertained immediately.
Care Ratings ended 1.31 percent down on the BSE at Rs 1,217.30, while on the NSE it dropped 0.43 percent to close at Rs 1,232.
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