ChrysCapital has bought additional 1.55% stake in NCC LImited for Rs.35 Cr through open market transaction.

ChrysCapital's entity Warhol Ltd (Mauritius) bought 4 Mn shares at Rs.87.5 per share through bulk deal on BSE and NSE combine.

Earlier this month, it bought 2.65% stake in the company for Rs.67 Cr at Rs.98.99 per share. ChrysCapital now holds 4.2% stake in the company.

Transaction Reference: BSE

NCC Limited operates as a construction company in India. Its business verticals comprising of Buildings & Housing, Transportation, Water & Environment, Irrigation, Power, Electricals, Metals and Oil & Gas.

Blackstone is the other PE firm holding around 9.9% stake in NCC. It had invested around Rs.400 Cr in 2007 for 9% stake. Rakesh Jhunjhunwala along with his wife owns 5.44% stake in NCC, while Norway’s sovereign wealth fund, Government Pension Fund Global, holds 6.83% in the company.

The current market cap of the company is Rs.2,213 Cr. Company posted total income of Rs. 4,782.64 Cr with net profit of Rs.232.62 Cr for FY2010, while for the period of quarter ending December 2010 it posted total income of Rs.1,337.79 Cr with net profit of Rs.40.43 Cr.

Earlier this year, ChrysCapital invested Rs.112.5 Cr in KPIT Cummins Infosystems Limited by way of preferential allotment.

Recently, Gayatri Projects had announced in January that it was planning to invest Rs.1,000 Cr in NCC Power Projects through Gayatri Energy Ventures and raise upto Rs.100 Cr through a rights issue; while NCC through its subsidiary NCC Power Projects has acquired 55% stake in Nelcast Energy Corporation Limited.

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May 25, 2011 07:58 AM

nagararjun chryscapital - Posted by jovi

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