Ace investor Rakesh Jhunjhunwala has upped his holding in VIP Industries, by acquiring additional 9.71 lakh company shares via open market. Rakesh Jhunjhunwala along with Clue Leasing and Finance, Hillcraft Investments Company collectively purchased 1.03 million shares representing 0.73% stake in the company through open market purchases.
As on June 30, Rakesh Jhunjhunwala held 9.18 million or 6.49% stake in the company. The latest acquisition takes Rakesh Jhunjhunwala's total shareholding increased to more than 7% in the company.
VIP Industries is engaged in manufacturing of moulded luggage (from high-density polyethylene), soft luggage (from nylon, polyester, jupolene, printed polyester) and ABS luggage (from acrylonitrile butadiene styrene plastic) including briefcases, suitcases, handbags, carry bags and vanity cases.
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