Billionaire investor George Soros' hedge fund Quantum (M) has hiked its stake in Educomp Solutions to nearly six per cent through purchase of shares worth Rs 112.35 crore.
Quantum (M) has acquired three lakh shares representing 1.18 per cent stake worth Rs 112.35 crore in the company by private placement of shares, Educomp said in a disclosure to the Bombay Stock Exchange.
Prior to the acquisition the foreign fund held 4.79 per cent stake, which increased to 5.97 per cent comprising 11.29 lakh shares in the IT education services provider.
Earlier this month, the board of the company had approved issuance of 16.2 crore equity shares at Rs 3,745 per share aggregating to Rs 606.69 crore.
Shares of Educomp were trading at Rs 4,089, up 4.66 per cent in the morning trade on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app