Franklin India today acquired 1 per cent stake in Germany-based HeidelbergCement Group's Indian arm for about Rs 17 crore through an open market transaction.
According to NSE data, Franklin India Smaller Companies Fund acquired 23,68,515 shares, or 1.04 per cent stake, in HeidelbergCement India Ltd for Rs 16.93 crore.
The shares were bought at an average price of Rs 71.5 per share.
Meanwhile, Jupiter South Asia Investment Company today off-loaded 0.88 per cent stake in the cement manufacturing firm.
Jupiter's South Asia Access Fund sold 20,03,717 shares in HeidelbergCement for Rs 14.32 crore.
HeidelbergCement India Ltd is a subsidiary of Germany-based HeidelbergCement Group. The company has its operations at Damoh in Madhya Pradesh, Jhansi in Uttar Pradesh and Ammasandra in Karnataka. It sells cement through the MyCem brand.
