Samena Capital Special Situations Fund, an investment management group focusing on principal investments in Asia and North Africa, has picked up 1.56 per cent stake in Noida-based Jubilant Industries Ltd for a total consideration of $0.59 million or Rs 2.65 crore in a bulk deal today. The buyer acquired 122,394 shares at a price of Rs 217.01 each through the open market.
The investment manager has been consistently upping its stake in the company. In February this year, Samena acquired 73,736 shares at a price of Rs 194.02 per share through the open market. It now holds 4.5 per cent stake into the company.
Jubilant Industries is the flagship company of agri and performance polymers business of the Jubilant Bhartia group. The company’s diversified portfolio includes a wide range of crop nutrition, crop growth and crop protection agri products, as well as performance polymers products comprising consumer products like adhesives, wood finishes, application polymers like emulsion polymers, food polymers and latex such as Vinyl Pyridine, SBR and NBR latex.
Samena also holds 1.06 per cent stake in another group firm Jubilant Life Sciences Ltd. Formerly known as Jubilant Organosys Ltd, this is an integrated pharma and life sciences company, headquartered in India. In 2010, it demerged its agri & performance polymers business into an independent company Jubilant Industries Ltd, which became a part of Jubilant Bhartia Group.
In 2008, Samena Capital raised $200 million for its debut Samena Special Situations Fund. Atul Punj, chairman of Punj Lloyd (one of India’s leading engineering construction companies), became the chairman of Samena Capital.
Although the asset management firm is headquartered in Bahrain, its FSA-regulated investment advisor had an office in London and intended to establish its presence in Hong Kong, Mumbai and Tokyo before the end of 2008. Among Samena Capital’s founding shareholders are Shirish Saraf, Arif M. Naqvi, Samir J. Fancy, Ramiz Hasan, Sheikh Ziad Abdul Rahman Al Turki (ATCO Group, Saudi Arabia), H. E. Sheikh Nawaf Nasser Bin Khahd Al Thani (NBK Group, Qatar), Sheikh Kamal Bahamdan (Bahamdan Group, Saudi Arabia), Atul Punj (Punj Lloyd, India), V-Nee Yeh, Gratian Anda (IHAG Holdings, Zurich), Colin Rutherford and Simon Wong.