Mumbai: Foreign fund Arisaig Partners Asia has consolidated its stake in Wadia Group- controlled Britannia Industries to more than 5% by acquiring an additional 1.85 lakh shares for Rs24 crore through open market transactions.
In a deal on 12 March, Arisaig Partners acquired 1.85 lakh shares representing 0.78% in the biscuit maker, a regulatory filing on the Bombay Stock Exchange shows. Going by the intra-day high of Britannia on 12 March at Rs1,300 per share, Arisaig Partners could have bought the additional shares for Rs24.05 crore.
The fund now holds 12.32 lakh shares, representing 5.16%, in Britannia Industries as against its previous holding of 10.47 lakh shares, or a 4.78% stake.
Arisaig holds significant stakes in many major companies, including leading tractor manufacturer Escorts, where it recently increased its holding to 5.83%.