Premji buys 4% stake in Himatsingka Seide

Azim Premji has acquired eight lakh shares of Himatsingka Seide at Rs 136 per share in a block deal announced on the BSE website today. The seller was Arsaig Partners Asia Pte.

Himatsingka Seide, with an equity capital of Rs 19.117 crore, had reported a net profit of Rs 46.40 crore in FY05.

According to the latest shareholding pattern with the BSE (for the quarter ended September 30, 2005), Indian promoters held 1.16 crore shares accounting for over 61% of the equity capital of the company. Arsaig Partners Asia Pte held 7.18 lakh shares, accounting for 3.76% of the equity.

While institutional investors held 14.53% equity (27.78 lakh shares), Indian public held 19% (37.12 lakh shares).

The stock closed at Rs 137 on the BSE today. The counter logged a volume of 8.75 lakh shares as against the two-week average volume of 1.45 lakh shares.

Himatsingka Seide manufactures silk yarns and fabrics for international customers.