IDFC MF scheme buys Godfrey Phillips shares for Rs 69 crore

IDFC Premier Equity Fund today acquired a total of 2.50 lakh shares of leading cigarette maker Godfrey Phillips India for an estimated Rs 69 crore through the open market route.
Separately, Royal Bank of Scotland offloaded total of 1,85,164 shares of Godfrey Phillips worth over Rs 51 crore.
According to the bulk deal information with the stock exchanges, IDFC Premier Equity Fund purchased 1.25 lakh shares each of Godfrey Phillips on both the NSE and the BSE.
The shares were purchased for an average price of Rs 2,760 apiece valuing the transaction at Rs 69 crore.
The Royal Bank of Scotland Plc as Trustee of Jupiter India sold 99,524 and 85,640 shares of the cigarette maker on the NSE and BSE respectively.

Godfrey Phillips India is one of the largest players in the Indian cigarette industry with an annual turnover of over Rs 3,200 crore (estimated 2011-12) and also has other business interest in tea pan masala and confectionery.
A flagship company of the diversified K K Modi Group, Godfrey Phillips India manufactures some of the most popular cigarette brands in the country like Four Square, Red and White, Cavanders.
Shares of Godfrey Phillips climbed 5.77 per cent to end the day at Rs 2,760 apiece, on the BSE.