Swiss Finance Corporation Limited has bought 26,99,232 shares of @Gujarat_Pipavav Ltd for a total of R11.87 Cr through open market transaction at R44 each on NSE.
Port Pipavav is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group.
Port Pipavav, a successful public-private enterprise, is emerging as an important gateway port on the West Coast of India for containers, bulk and liquid cargo. Located just 152 nautical miles from Nhava Sheva in Mumbai or 10 hours steaming time, Port Pipavav provides excellent access to the main shipping lines as well as to the cargo belt in the northwestern region of India.
With a 43.01% stake, APM Terminals is the largest shareholder in Port Pipavav. Port Pipavav went public in September 2010 and raised R500 Cr capital from the markets. Other key shareholders in Port Pipavav are: New York Life International India Fund (Mauritius) LLC, ICICI Prudential Mutual Fund, Matthews India Fund, Credit Suisse Ltd, Bajaj Allianz, Vanguard International, etc.
Last year, Gujarat Pipavav Port Limited witnessed a major bulk deal on NSE as Franklin Templeton Investment Funds and ICICI Prudential Mutual Fund together bought over 1.15 Cr shares and IDFC Infrastructure Fund sold 2 Cr shares of the company.
The net profit of Gujarat Pipavav Port for quarter ended March is R35.24 Cr.
Pipavav Port's Performance Chart on BSE:
Swiss Finance Corporation is an experienced and well-respected trading institution offering Spot FX, Option, Forwards, NDFs and precious metals since 1988.
Recently, Swiss Finance Corporation has acquired 55.3 lac shares of @Apollo_Tyres_Li for a total of R35.877 Cr through open market transaction hiking its stake by 1.097% to 2.49%.
Also, it acquired 2,99,999 shares of Tata Elxsi at R171 and had sold 24.5 lakh shares of private sector lender @Yes_Bank for R92.55 Cr.