 "MIT sells SCUF shares for Rs 150 cr")
According to the bulk deal data with the National Stock Exchange on Wednesday, Massachusetts Institute of Technology has sold 8,37,307 shares in the company for Rs 1,786 per share. It has been holding 8,46,543 equity shares as on September 30, 2014, which was around 1.28% of the total shares in the company.
Earlier reports suggest that the instgitute has acquired 5,99,943 shares in SCUF for Rs 984 per share, aggregating to Rs 59 crore, during July, 2013. During the time, IIFL has sold around 4.80 lakh shares of SCUF for Rs 47.23 crore.
The shares were picked up by the US-based investor ABG Capital with investments into various technology related companies. It has bought 8,37,307 shares in the company for Rs 1,786 per share.
It may be noted that the company is known for attracting investements from various major investors and its shareholders include TPG India Investments Inc, which holds 20.37% share, Piramal Enterprises, which acquired around 9.98% of the total shares, Bessemer Venture Partners Trust, which holds 3.34% of shares, Norwest Venture Partners which has 3.30% and Morgan Stanley Asia (Singapore), which has 2.11% of the shares in the company.
Besides, Matthews India Fund holds 2.01% shares, Steadview Capital Mauritius holds 1.71%, Bank Muscat SAOG has 1.59%, Acacia Partners owns 1.52%, Wasatch Emerging Markets Small Cap Fund holds 1.25%, SBI Emerging Business Fund 1.06% and Acacia Institutional Partners LP 1% of the totals shares in the company as on September 30, 2014, according to data available with BSE.
The twenty eight-year old Shriram City, a deposit-accepting NBFC which is a part of the Rs 90,000 Crore Shriram Group, offers multiple loan products to small business owners and for acquiring assets such as two wheelers, commercial vehicles, passenger vehicles, consumer durables and homes. It also offers loans against gold ornaments and for personal consumption.