Shalimar Paints, India's oldest paint company, has seen a 50 per cent spurt in its stock price since early September. Sources said private equity major Blackstone has been aggressively buying the stock. Shalimar is the smallest of the five-player paint sector, excluding regional players. The stock closed at Rs 157 on Friday.
Snowman may be multi-bagger for Faering Capital
Private equity firm Faering Capital, which bought shares in Snowman Logistics as an anchor investor, is sitting on two-fold gains on its investment in the cold-storage warehousing firm. Faering is founded by HDFC Chairman Deepak Parekh's son Aditya Parekh and Morgan Stanley's former executive Sameer Shroff. HDFC Bank was the sole investment bank handling the issue. ICICI Prudential and IDFC Infra Fund were the other two anchor investors, who get allotment at the discretion of the investment banker. On Friday, Snowman again hit the upper circuit at Rs 94.65, up over 100 per cent since listing on September 12.
Fund houses buy into cloud computing firm
Mutual fund houses Sundaram BNP Paribas and DSP Blackrock have recently bought into little-known cloud computing firm 8k Miles Software Services. The stock has proved to be a multi-bagger for DSP Blackrock Micro Cap Fund, which owns nearly three per cent stake. Shares of the Chennai-based 8k have increased more than three-fold since May and its market capitalisation is more than Rs 400 crore.
