Cartica Capital acquires 5% stake in Page Industries through open market route

18 Feb 2014

Emerging markets-focused investment firm Cartica Capital has acquired 5% stake in Page Industries for a sum of more than Rs 316 crore through open market route. Individually, the investment firm bought 4.08 lakh shares of Page Industries on the National Stock Exchange (NSE) and 1.5 lakh shares on the Bombay Stock Exchange (BSE) at an average price of Rs 5,673, thereby valuing the transaction at Rs 316.55 crore.

The shares were purchased from company's three promoters -- Nari Genomal, Ramesh  Genomal and Sunder Genomal  along with HDFC MF. While, promoters sold 1.36 lakh shares each, HDFC MF sold 1.5 lakh shares. As of December quarter, three promoters held 21.46 lakh shares each, amounting to 19.24 per cent stake, of the company.

Page Industries has been engaged in the business of manufacturing garments. The company is located in Bangalore and is the exclusive licensee of Jockey International Inc (USA) for manufacture and distribution of the Jockey brand innerwear/ leisurewear for men and women in India, Sri Lanka, Bangladesh, and Nepal.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323