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The promoters of hit soap factory Balaji Telefilms, Jeetendra Kapoor and his family members, have offloaded 10.11 per cent of their equity to a group of foreign institutional investors, bringing down their stake in the company to 57.80 per cent, the company has confirmed.
Balaji Telefilms company secretary Ajay Patadia confirmed the stake sale but would not reveal the price paid per share in the offload. The only confirmation on this is that it is over Rs 600 per share.
A Reuters report, quoting market sources, said US-based Capital International was one of the buyers. Reuters also quoted Patadia as saying Singapore-based Alliance Capital was among the funds which have a big exposure to the company.
Meanwhile CNBC India, quoted Balaji chairman Jeetendra Kapoor as saying there would be no more divestment for the near term at least.
