Merrill Lynch has acquired stake in the mining company Ashapura Minechem through open market. Merrill Lynch Capital Markets Espana S.A. SVB has bought 6,52,464 shares of the company at Rs 57.91 on the NSE.
Meanwhile, Albula Investment Fund had acquired 9.47% stake or 7.86 million shares in Ashapura Minechem on November 29 from Volclay International through bulk deal on BSE and NSE.
Volclay International Corporation sold shares via two block deals - one block deal was of 37,50,285 equity shares at Rs 45.75 apiece on the BSE and other one was of 41,07,060 shares at Rs 48.70 on the NSE.
The Ashapura Group also has business interests in iron ore, bleaching clay, kaolin and barites. The group has mining and mineral processing units located at Belgium, Nigeria, Oman and Malaysia.
