Major shareholder invests Rs. 1 b more to up stake in Sunshine Holdings

Major shareholder Lamurep Investments Ltd., last week invested nearly Rs. 1 billion to pick up a further stake in Sunshine Holdings PLC.

Lamurep previously held a 51.09% stake in Sunshine and last week picked up a further 8.38%, thereby increasing its holding to 59.47%. 

It bought 30.13 million shares at Rs. 26.60 each and a further quantity of 7.5 million shares at Rs. 25.50 apiece in a total deal worth Rs. 991 million. 

Daily FT learns that among sellers were several foreign funds, whilst SBI Ven Holdings Ltd., which held a 9.5% stake as of end June 2021, had sold part of their stake too. 

The highest price of Sunshine Holdings in the quarter ended 30 June was Rs. 28 and the lowest was Rs. 22.50,eventually closing at Rs. 25.10.