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Tuesday, Oct 04, 2005

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IFC buys 9.6% in AP Paper

Our Bureau

Hyderabad , Oct. 3

THE International Finance Corporation (IFC) has acquired 22.88-lakh equity shares of Andhra Pradesh Paper Mills Ltd (APPML) aggregating to 9.61 per cent of the latter's paid-up equity.

In a communiqué to stock exchanges, APPML said the mode of acquisition was through renunciation of rights and the date of acquisition was September 21.

The shareholding of IFC following the acquisition now stands at 9.61 per cent.

Digvijay Investments Ltd has acquired 12,37,566 shares of APPML representing 5.2 per cent of its paid-up capital on September 23.

The mode of acquisition was rights shares allotted by APPML.

The shareholding of Digvijay after the acquisition stood at 70,06,172 shares aggregating to 29.41 per cent of APPML's paid-up equity.

Further, Digvijay has acquired through open market 8,655 shares on September 28, 13,623 shares on September 29. and 25,000 shares on September 30.

Its shareholding after the open market purchases stood at 70,53,450 shares, representing 29.61 per cent of APPML's total paid-up capital.

Through rights issue, Maharaja Shree Umaid Mills Ltd (MSUML) has acquired 13,72,629 shares (5.76 per cent) of APPMLon September 23.

The shareholding of MSUML after the acquisition stood at 27,45,258 shares (11.53 per cent) of APPML's total share capital.

Peria Karamalai Tea & Produce Co Ltd has acquired 70,000 shares (0.29 per cent) on September 23 through rights issue.

Following this, its holding in APPMIL now stands at 6,96,010 shares representing 2.92 per cent of APPML.

On Monday, the AP Paper stock closed at Rs 113.30, against the previous close of Rs 108.50.

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