HR services provider b4S Solutions has acquired 85.29 per cent stake in Swaraj Automotives (SAL).
The company has acquired 2,045,000 shares of Swaraj Automotives Ltd amounting to 85.29 per cent stake, b4S Solutions said today.
Out of this, it has purchased 71.19 per cent stake of auto major Mahindra & Mahindra for Rs 24.84 crore amounting to 17,06,925 equity shares of Rs 10 each on February 1, 2016.
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"The company completed the sale of 17,06,925 equity shares of Rs 10 each yesterday," M&M said in a BSE filing on February 2, 2016.
The rest 14.10 per cent stake was purchased yesterday and today, b4S Solutions said without giving the names of the sellers.
Shares of Swaraj Automotives today closed at Rs 24 per scrip on the BSE, up 4.80 per cent from its previous close.
