Cummins India offloaded 1,787,333 shares of information technology firm, KPIT Cummins Info-systems, at Rs 125 on the National Stock Exchange (NSE), on November 7, 2012. However, CX Securities bought 2,587,571 shares at Rs 125.
Earlier, it was reported Private equity major ChrysCapital along with CX Partners, would be investing Rs 162 crore in Pune-based firm through a preferential allotment.
Private equity major ChrysCapital, which holds 9.52% stake in KPIT, will increase its shareholding go up to nearly 13.6 per cent with this investment. The firm purchased 8.9 per cent stake in KPIT Cummins in January 2011 for Rs 112.5 crore and later bought some additional shares from the market.
