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CPCI Mauritius picks up 9.63% stake in Hinduja Foundries

Company has acquired 70 lakh shares and as on January 29, share price of company was Rs 27.95 per equity share

Gireesh Babu  |  Chennai 

(Mauritius) Ltd has picked up 9.63% in firm Hinduja Foundries, through a (QIP).

The company has acquired 70 lakh shares and on the trade date of January 29, 2014, the price of the company in the market was Rs 27.95 per equity share, according to the data with

It may be noted that some of the investment, including Albula Investment, has recently picked up stake in Hinduja Foundries, which earlier was referred to BIFR, as the company's networth eroded by almost 50%.

Ltd, the foundry arm of and arm of Ashok Leyland, has received approval from the holders to allot equity shares through (QIP) and preferential allotment to a promoter group entity to raise a sum not exceeding Rs 150 crore.

First Published: Thu, February 13 2014. 18:11 IST