Institutional investors led by mutual funds and foreign portfolio investors (FPIs) have increased their stake in Shankara Building Products (SBPL) by nearly 11 percentage points in past three months.
The total institutional investors holding in the company increased 10.96 percentage points to 23.71% in June quarter. They held 12.75% stake at the end of March quarter. Mutual funds raised their holdings in the company to 12.24% from 5.06%, while FPIs to 7.27% (4.7%) and of alternate investments funds to 4.17% (1.58%).
The company raised Rs 345 crore through public issue, subscribed 41.88 times. The portion for qualified institutional buyers (QIBs) was subscribed 51.62 times, while the high net worth individual quota was subscribed 90.68 times. The retail investors’ category was subscribed 15.35 times.
Shankara Building Products is one the leading organized retailers of home improvement and building products in India based on number of stores, operating under the brand name Shankara Buildpro.
