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Akash Bhanshali acquires 1.43% stake in Balrampur Chini Mills

21 May 2015 Evaluate

Akash Bhanshali has acquired 1.43% stake in Balrampur Chini Mills. With this acquisition, Akash Bhanshali’s stake in the company increased to 6.29% from 4.86%.

Recently, JP Morgan Indian Investment Company (Mauritius) sold 41.17 lakh shares of the company through the open market route. The shares were sold on an average price of Rs 43.50 valuing the transaction to Rs 17.91 crore.

Balrampur Chini is one of the largest integrated sugar manufacturers in India. Its business portfolio consists of manufacturing and marketing of sugar, ethyl alcohol, ethanol, generation and selling of power and also manufacturing and marketing of organic manure.

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