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IDFC raises stake in Jubilant Industries to 5.14%

IDFC raises stake in Jubilant Industries to 5.14%
PTI
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First Published: Mon, Jul 25 2011. 07 42 PM IST
Updated: Mon, Jul 25 2011. 07 42 PM IST
Mumbai: Fertiliser and chemical maker Jubilant Industries on Monday said IDFC Mutual Fund has acquired 2.65% stake in the company through open market transactions, taking its total shareholding to 5.14%.
IDFC earlier held 2.49% stake in Jubilant.
The company in a filing to the Bombay Stock Exchange (BSE) said IDFC Mutual Fund through its scheme IDFC Small and Mid Cap Equity Fund has made purchase through the open market on 22 July , 2011, which was around 2.65% of the paid-up capital of the company.
The total paid-up capital of the company before the acquisition stood at Rs 8.01 crore, it added.
With this fresh acquisition, IDFC’s total stake in Jubliant has reached 5.14%.
Jubilant Industries is the flagship company of Jubilant Bhartia group and it produces single super phosphate (SSP), a crop nutrient.
The company also produces industrial chemicals and performance polymers.
Shares of the company on Monday closed at Rs 220, up by 3.48% from previous close on the BSE.
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First Published: Mon, Jul 25 2011. 07 42 PM IST