Indian-American businessman Mohnish Pabrai's fund Monday bought about 2 per cent stake in Care Ratings for nearly Rs 63 crore through open market transactions.
According to the bulk deal data available with the BSE, Pabrai Investment Fund II LP purchased 2.80 lakh shares of the credit rating agency at Rs 1,225.01 apiece for a total amount of Rs 34.26 crore.
The fund also picked up 2.32 lakh shares of Care Ratings at an average price of Rs 1,224.93 for a total sum of Rs 28.46 crore, the bulk deal data with the NSE showed.
On a cumulative basis, the fund bought 5.12 lakh shares, amounting to 1.74 per cent stake for a consideration Rs 62.72 crore.
The buyer(s) of the shares could not be ascertained immediately.
Care Ratings ended 1.31 per cent down on the BSE at Rs 1,217.30, while on the NSE it dropped 0.43 per cent to close at Rs 1,232.
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