Coromandel Sugars has picked up and additional 4.9% stake in 
Ponni Sugars Erode in an off-market deal.
Coromandel Sugars stake in Ponni Sugars Erode has gone up to 6.74% from 1.84% it was holding at the end of the June 2010.
Coromandel bought 4.25 lakh shares in a block deal at a price of Rs.106.5 a piece.
Transaction Reference: FE
Coromandel Sugars Limited (CSL) promoted by India Cements group is engaged in manufacture of sugar, molasses and power through co-generation.
Chennai-based Ponni Sugars (Erode) Limited (PSEL) is a part of ESVIN group which has companies like Seshasayee Paper Boards (SPB), SPB Projects (a consultancy company), and High Energy Batteries (HEB) etc.
Ponni Sugars (Erode) Limited is engaged in the production and sale of sugar in India. It also provides various by products of sugar.
Promoters hold 45.63% stake in Ponni Sugars Erode.
Paterson and Company had recently exited by selling its entire 2.27% stake in Ponni Sugars Erode at a price of Rs 106.57 a share.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 09/08/10 |
Ponni Sugars - Coromandel Sugars |
M&A |
Coromandel Sugars Limited |
0.98 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 20/01/12 |
IPO / Offerings |
|
Hindusthaan Eco Ventures Limited |
- |
Planned |
| 16/01/12 |
M&A |
Malabar Trading Company Limited |
Protect Nature Private Limited |
- |
Completed |
| 09/01/12 |
IPO / Offerings |
|
Octant Industries Limited |
2.48 |
Announced |
| 04/01/12 |
IPO / Offerings |
|
Vishwanath Sugar And Steel Industries Limited (Formerly Vishwanath Sugars Limited) |
70.34 |
Announced |
Company |
| Name | Promoters | Office | Competitor | Website |
| Coromandel Sugars Limited |
The India Cements Limited |
Dhun Building,827, Anna Salai,Chennai-600002,Tamil Nadu, India |
|
|
| Ponni Sugars Erode Limited |
S Viswanathan |
Esvin House, No. 13 Old, Mahabalipuram Road Seevaram Village, Perungudi,Chennai 600096 |
|
www.ponnisugars.com |
