Financial Daily from THE HINDU group of publications
Tuesday, Apr 16, 2002
Financial Daily from THE HINDU group of publications Tuesday, Apr 16, 2002 |
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Info-Tech
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Software Markets - Foreign Institutional Investors FIIs reduce stake in SSI; promoters' holding in tact Raja Simhan T.E.
CHENNAI, April 15 FOREIGN institutional investors (FIIs) have reduced their stake in SSI Ltd by 1.68 per cent to 16.19 per cent (21.80 lakh shares) during the quarter ended March 31, 2002. The FII stake was 17.87 per cent (24.06 lakh shares) in the previous quarter. The FIIs holding in the company had come down from 24.39 per cent by the end of March 31, 2001, to 17.87 per cent during the quarter ended December 31, 2002 and to 16.19 per cent by March 31, 2002. Company sources said while Oppenheimer Funds Inc raised its shareholding to 2.1 per cent during March 31, 2002, from 1.79 per cent in the previous quarter, Merrill Lynch Capital Markets reduced its stake to below one per cent during the last quarter. The other FIIs having stakes in the company include Solomon Smith Barney (M) Pvt Ltd, UBS Warburg Asia Ltd A/c Swiss Finance, Goldman Sachs Investment (Mauritius) Ltd., and Oppenheimer Funds, and there was a marginal change in their shareholding, the sources said. By March 31, 2002, the total foreign shareholding in the company was 29.12 equity shares representing 21.63 per cent of the total capital, including 6.28 lakh (4.67 per cent) equity shares held by Bankers Trust Company in the form of GDR holdings. In the previous quarter, the total foreign shareholding was 31.53 lakh equity shares representing 23.41 per cent of the total equity shares including 6.35 lakh (4.72 per cent) equity shares held by Bankers Trust Company in the form of GDRs. The shareholding of the Indian public in SSI Ltd increased to 28.95 per cent by the quarter ended March 31, 2002, from 25.94 per cent the previous quarter, and 15.54 per cent a year ago. The company's promoters' shareholding remained unchanged at 27.81 per cent.
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