Billionaire investor George Soros’ hedge fund Quantum (M) has hiked its stake in Educomp Solutions to nearly 6% through purchase of shares worth Rs 112.35 crore.
Quantum (M) has acquired three lakh shares representing 1.18% stake worth Rs 112.35 crore in the company by private placement of shares, Educomp said in a disclosure to the Bombay Stock Exchange.
Prior to the acquisition the foreign fund held 4.79 per cent stake, which increased to 5.97 per cent comprising 11.29 lakh shares in the IT education services provider.
Earlier this month, British publishing group Pearson formed a joint venture with Educomp Solutions Ltd, an educational-content and software maker, for vocational training, in which the UK company picked up a 50% stake in for $17.5 million.
Shares of Educomp were trading at Rs 4,089, up 4.66 per cent in the morning trade on the BSE.
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