Centrum Capital hits 52-week high on stake hike by promoters

The stock rallied 11% to Rs 32.60 in intra-day trade, extending its Thursday's 10% gain on the BSE

Centrum Capital has moved higher to its 52-week high of Rs 32.60, up 11% in intra-day trade, extending its Thursday’s 10% gain on the BSE, after the promoters Jaspal Bindra and Chandir Gidwani have increased their holding in the company by acquiring an additional nearly 5% stake via open market transaction for Rs 49 crore.

Jaspal Bindra and Chandir Gidwani, through their investment company JBCG Advisory Services Pvt. Ltd have acquired 19.54 million equity shares representing 4.7% of total equity of Centrum Capital at a share price of Rs 25.08 per share via block deal on the BSE.

Indivision India Partners had sold 20.50 million shares (5% stake) of the Mumbai-based financial services firm, data shows. LINK

As of September 30, 2016, Indivision India Partners held 12.1% or 50.33 million shares, while promoters held 32.25% stake in Centrum Capital, the shareholding pattern data shows.

At 12:56 pm; the stock was up 5% to Rs 31 as compared to 0.17% rise in the S&P BSE Sensex. Around 551,000 shares changed hands on the counter so far on the BSE.

Centrum Capital is one of the leading merchant bankers in the country. The activities of Centrum Capital encompass the entire gamut of investing banking activities such as lead managing of public issues, private placements, loan syndication, corporate debt restructuring, mergers and acquisitions, corporate advisory services, infrastructure solutions, private equity investments etc., besides dealing in the primary and secondary markets of securities.