Karuturi Global announces transfer of share's within the promoter Group

Karuturi Global Ltd has announced that Rhea Holdings Pvt. Ltd., a promoter group entity in the Company is transferring 1,08,53,347 shares, to Mr. Karuturi Sai Ramakrishna, Managing Director and promoter of the Company.

Mr. Karuturi Sai Ramakrishna currently holds 3,15,58,280 shares in the Company, out of which 2.28 crore shares, constituting 4.65% of the total paid up capital of the Company i.e. Rs. 48,93,05,325, was acquired on October 28, 2009 through preferential allotment of warrants. With this allotment, the total promoter group holding has gone up from 23.65% to 26.72%, which is well within the upper ceiling of 55% as specified by the Substantial Acquisition of shares and take over regulation of SEBI.

After acquiring 1,08,53,347 shares from Rhea Holdings Pvt. Ltd., Mr. Sai Ramakrishna Karuturi holdings in the Company will be enhanced to 4,24,11,627 shares and the total promoter group holding will remain at 13,07,89,007 shares of Re. 1 each.

The stock closed the day at Rs.18.70, down by Rs.0.10 or 0.53%. The stock hit an intraday high of Rs.19.25 and low of Rs.18.60.

The total traded quantity was 646813 compared to 2 week average of 793215.

Source : Equity Bulls

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