You are here: Home » Companies
Business Standard

Dynasty Acquisition sells Rs 300 crore shares in Cholamandalam Investment

According to the bulk deal data with NSE, the investor sold 2.7 million shares for a trade price of Rs 1,100.54 apiece

BS Reporter  |  Chennai 

This is article Banner

Dynasty Acquisition (FDI) Ltd has sold 2.72 million shares in Murugappa Group firm Cholamandalam Investment and Finance Company, for a total trade price of Rs 299.66 crore. According to the bulk deal data with National Stock Exchange, the investor sold the shares for a trade price of Rs 1,100.54 per share.

As on June 30, 2016, it was holding around 1,2285,012 equity shares in Cholamandalam. Cholamandalam Investment, in 2014, raised Rs 500 crore from Dynasty Acquisition, a company backed by funds advised by Apax Partners, by allotting 5,00,00,000 shares at 1 per cent compulsorily convertible preference shares (CCPS) of Rs 100 each. As per the terms of the issue, the CCPS was converted into 1,22,85,012 equity shares of Rs 10 each, at a conversion price of Rs 407 per equity share at the end of 12 months from the date of allotment, in 2015.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Fri, September 02 2016. 20:10 IST
RECOMMENDED FOR YOU