Jhunjhunwala buys 4% stake in Firstsource from ICICI, others

A total of 2.5 crore shares of Firstsource Solutions were acquired by the ace investor

Ace investor Rakesh Jhunjhunwala today picked up nearly 4% stake in BPO service provider Firstsource Solutions for an estimated Rs 25 crore from private sector lender ICICI Bank and others.

A total of 2.5 crore shares (representing 3.8% stake) of Firstsource Solutions were acquired by Jhunjhunwala, as per the bulk deal information with stock exchanges.

The shares were purchased at an average price of Rs 10 apiece, amounting to Rs 25 crore.

Two shareholders of Firstsource Solutions, ICICI Bank and Aranda Investments Mauritius, offloaded a total of 3.3 crore shares for nearly Rs 33.2 crore.

ICICI Bank offloaded 1.3 crore shares (about 2% stake) of Firstsource Solutions in a transaction worth Rs 13 crore, while Aranda Investments Mauritius sold little over 2 crore shares (3.07% holding) of the firm for Rs 20.2 crore.

As on March quarter, ICICI Bank held 4.52 crore shares of Firstsource Solutions (6.88% stake), while Aranda held 2.20 crore shares (3.35% stake) in the company.

Another entity OHM Enterprises acquired 40 lakh shares of Firstsource Solutions and sold 8 lakh shares of the company in a bulk deal.

For the March quarter, Firstsource Solutions reported 74.2% increase in net profit at Rs 40.2 crore, and 14.6% growth in revenues to Rs 712.5 crore.

Shares of Firstsource Solutions today jumped 19.92% to end the day at Rs 11.62 apiece, on the BSE.