Subhash Chandra hikes Essel Propack stake by 10%

Subhash Chandra, promoter and chairman of Essel Propack, has directly and through entities directly or indirectly controlled by him acquired 34,31,661 equity shares, constituting 10.96% of the paid- up capital of the company, from Arfen Hsu  on October 19 and 20, 2005 through off-market route under the terms of the share purchase agreement.

According to a release issued by Essel to the NSE today, Lazarus Investments, Mauritius has acquired 34,14,000 shares on October 19, 2005, and Subhash Chandra has acquired 17,661 shares on October 20,2005.

The stock was up over 2% at Rs 338 on the NSE at 1408hrs.