Dr. Senthilverl now biggest shareholder at Sanasa Development Bank
Wednesday, 25 February 2015 00:05
-
- {{hitsCtrl.values.hits}}
High networth but low-profile investor Dr. T Senthilverl has increased his stake in Sanasa Development Bank (SDB) by 2% to near 15%, becoming the biggest shareholder.
He has purchased 550,000 shares on Monday at a price ranging from Rs. 118 and Rs. 120 per share. Broker to the transaction Bartleet Religare Securities said following Monday’s acquisition, Dr. Senthilverl holds 5.6 million shares or a 14.86% stake in SDB.
Dr. Senthilverl didn’t figure in the top 20 shareholders list of SDB as at September 2014 and until yesterday there was no disclosure or at the time when Dr. Senthilverl crossed the 10% threshold. As at end June 2014, he figured in the top 20 with a 1.83% stake.
Analysts speculated increasing the stake to near 15% was more on seeing future value than a strategic acquisition.
There were 54,385 shareholders in SDB as at 31 December 2013 and major stakes are held by a host of Sanasa Share Holders Trust Company from different areas of the country. There are a few institutional and individual shareholders from outside.
