The foreign fund house Morgan Stanley has increased its stake in Unitech to 5.18% through the purchase a 5.1% equity share stake for Rs 400 crore through the QIP route.
Unitech has placed 10.4 crore shares with the fund, subsequent to which the latter holds a 5.2% stake in the former, as per the disclosures filed with the Bombay Stock Exchange (BSE). Prior to the placement, Morgan Stanley was holding 19.4 lakh shares, or 0.1%, in Unitech. Unitech has allotted a total of 42.1 crore shares at Rs 38.5 per share, including premium of Rs 36.5 to 44 qualified institutional buyers.
According to the company''s shareholding data available as on March 31, 2009, promoters held stake of 64.5%, while foreign institutional investors owned a 8.2% equity share. Bodies corporate and the public held 11% and 13%, respectively, in the company.
Unitech has placed 10.4 crore shares with the fund, subsequent to which the latter holds a 5.2% stake in the former, as per the disclosures filed with the Bombay Stock Exchange (BSE). Prior to the placement, Morgan Stanley was holding 19.4 lakh shares, or 0.1%, in Unitech. Unitech has allotted a total of 42.1 crore shares at Rs 38.5 per share, including premium of Rs 36.5 to 44 qualified institutional buyers.
According to the company''s shareholding data available as on March 31, 2009, promoters held stake of 64.5%, while foreign institutional investors owned a 8.2% equity share. Bodies corporate and the public held 11% and 13%, respectively, in the company.
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