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FPIs sell stake in Manpasand Beverages; Nomura, Parvest Equity exit

Press Trust of India  |  New Delhi 

Foreign portfolio investors (FPIs) have sharply reduced their stake in SAIF Partners-backed Beverages to 13.35 per cent in the June quarter with entities such as and India exiting the company.

FPIs held 21.56 per cent stake in at the end of the previous quarter -- March 31.

Group and India have exit the Vadodara-based fruit juice maker company.

As per the latest shareholding data for June quarter, while held 4.86 per cent stake in through various funds, held 1.07 per cent stake, as on March 31, 2018.

Last month, shares of Manpasand plunged over 60 per cent in a week's time after its & Sells resigned ahead of May 30 board meeting for consideration of financial results.

held shares in Manpasand through (2.43 per cent), and Banking (1.38 per cent) and (1.05 per cent).

Another FPI Baron, Emerging Markets Fund, has reduced its exposure to Manpasand to 3.62 per cent from 4.97 per cent at the end of March quarter.

However, Citibank NA, which did not figure in the shareholders list earlier, now holds 1.14 per cent stake in the company.

SAIF Partners, the largest public shareholder in Manpasand continues to hold 17.57 per cent stake in the company.

Mutual funds' shareholding in the company is at 10.83 per cent as on June 30 as against 11.60 per cent earlier.

On May 28, shares of Manpasand had plunged 20 per cent after its resigned ahead of the May 30 board meeting.

Then the firm had assured its investors saying that it was just a minor hiccup and does not represent any long-term business impact.

In 2017-18, Manpasand had a revenue of Rs 955.18 crore and owns brands such as MangoSip, Fruits Up, Manpasand ORS, and Pure Sip.

In December 2017, Manpasand had got regulatory approval from the to raise FPI holding in the company up to 49 per cent against 24 per cent limit earlier.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 13:10 IST
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