SmallCap World Fund hikes stake in Infibeam by 2% for Rs 169 crore
NEW DELHI: US-based SmallCap World Fund has hiked its stake in e-commerce firm Infibeam Incorporation by almost 2 per cent through an open market transaction for an estimated sum of Rs 168.94 crore.
According to a regulatory filing, SmallCap, which held 3.54 per cent stake in Infibeam earlier, bought 1.07 crore shares representing 1.97 per cent of equity stake.
The shares were bought on April 3 and based on the weighted average price of Rs 157.52, the transaction is estimated at Rs 168.94 crore.
Post the acquisition, SmallCap's stake in the company stands at 5.51 per cent. Shares of Infibeam were trading 1.86 per cent higher at Rs 161.50 on the BSE.
According to a regulatory filing, SmallCap, which held 3.54 per cent stake in Infibeam earlier, bought 1.07 crore shares representing 1.97 per cent of equity stake.
The shares were bought on April 3 and based on the weighted average price of Rs 157.52, the transaction is estimated at Rs 168.94 crore.
Post the acquisition, SmallCap's stake in the company stands at 5.51 per cent. Shares of Infibeam were trading 1.86 per cent higher at Rs 161.50 on the BSE.