Jardine Fleming Picks Up 28% Stake In Cbsi

The new investment into CBSI shareholding has been made by JFIM's subsidiary JF Electra Ltd of Hong Kong.

According to JF Electra director John Levack, the 28 per cent stake in CBSI has been acquired at a substantial premium, but he refused to disclose the price paid for the acquisition.

He, however, said that the investment forms part of the Rs 35-crore equity investment made by JH Electra in the last one year in three instalments. Investments have been made by them in two other companies as well: Aksh India Ltd and R T Packaging.