Australia's Platinum Investment Management has raised its stake in India's second largest real estate firm Unitech to 5.16%.
Platinum Investment Management has acquired 60,56,100 equity shares of Unitech, which is equal to 0.23% of the total paid up capital of Unitech, the realty firm said in a filing on the Bombay Stock Exchange.
Before this open market transaction, Platinum had 4.93% stake in Unitech, the filing added. The promoters have 48.57% stake in Unitech.
Share of Unitech today closed at Rs 39.30 on the BSE, down 2.48% from its previous close. At the current rate, 60,56,100 shares would have cost nearly Rs 24 crore.
Gurgaon-based Unitech has about 10,000 acres of land bank mainly in Noida, Greater Noida and Gurgaon. It is present in almost all the verticals of real estate including housing, retail, offices and hotels.
The company has recently announced that it would launch 10 million sq ft of area in the next three months.
