Artinvest hikes stake in Pritish Nandy Comm to 3.25%

Diversified entertainment company Pritish Nandy Communications today said one of its promoters — Artinvest India — has hiked its stake in the firm to 3.25 per cent for about Rs 1.15 crore.

In a filing to the Bombay Stock Exchange, the company said the promoter has bought 3,60,361 shares, representing 2.49 per cent stake, of the company through open market transactions.

The company said Artinvest India has purchased 3.60 lakh shares on various dates in FY2008-09. Calculated on the basis of the average share price of Pritish Nandy Communications during the said period the deal value amounts to Rs 1.15 crore.

Prior to the said transaction, Artinvest India had 0.75 per cent stake in the company which increased to 3.25 per cent pursuant to the said transaction.

Further, the promoter has made a market purchase of 80,000 shares on February 6. Calculated on the basis of the closing share price of Rs 15.95 on February 6, purchase value would amount to Rs 12.76 lakh.

Artinvest India is the on-line gallery that showcases art and new collectors alike.