Temasek buys 10% in Shringar

Temasek Holdings today picked up 10 per cent stake in Shringar Cinemas. The Singapore based private equity firm bought 31.5 lakh shares from India Value Trustee Fund, at Rs 62.50 per share through its subsidiary, the Mauritius-based Aranda Investments. The total value of the deal was close to be Rs 20 crore.

In yet another block deal, India Value Trustee Fund, one of the major shareholders in the company, also sold 1.58 lakh shares of the company at Rs 71.74.

As on June 30, India Value Fund had a 24.66 per cent stake in the company. The Shringar Cinemas stock closed at Rs 70.45 on the Bombay Stock Exchange today gaining 1 per cent.

Shringar Cinemas is into the business of film exhibition and film distribution. The company has entered into a pact with Paramount Pictures to distribute its films in Maharashtra.

It has multiplexes in Mumbai. Temasek's other investments in India include ICICI Bank, Matrix Labs and Apollo Hospitals.