By 19 October, 2011

Standard Chartered Private Equity (SCPE) has further increased its stake to nearly 12 per cent in Innoventive Industries Ltd, a multi-product engineering company based in Pune. The private equity arm of Standard Chartered Bank picked up 2.09 per cent stake from the markets on October 18 for Rs 11.62 crore (Rs 93 per unit). Earlier this month, SCPE had acquired 2.84 per cent stake in Innoventive, increasing its holding in the company from 6.98 per cent to 9.82 per cent.

At 11:24 am, the shares of Innoventive Industries were trading at Rs 95.25 per unit on the BSE, up 0.11 per cent.

Standard Chartered PE had acquired 10.14 per cent stake (on a pre-issue share capital basis) in the Pune-based company through a mix of share purchase from non-promoters and a fresh issue of shares in February this year. StanChart’s Mid-Market-Mid-Cap Fund had earlier invested a total of Rs 46 crore and with the current transaction, its exposure will go up to nearly Rs 72 crore.

To see our earlier story, click here.

StanChart PE Ups Stake In Innoventive To 9.82%

 

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