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Capital Market | 10 September 2012

HSBC Exits And ITC Ups Stake In EIH

by Charmi Gutka
HSBC Exits And ITC Ups Stake In EIH
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HSBC Bank (Mauritius) Limited sold its entire stake in hotel group @EIH_Limited1290 Limited.

The bank sold over 57.44 lakh shares at R73 per share amounting to R41.93 Cr. Of these shares sold, majority (57.33 lakh shares) was bought by Russell Credit Ltd. at the same price.

HSBC held 1% stake and it fully exited. Major stakeholders in the company include LIC (6.08%), Reliance Industries Investment (18.53%), and ITC Ltd. (14.98%) as on June 2012.

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