CLSA picks up 7% in Maytas Infra

HYDERABAD: Even as buzz about the beleaguered Maytas Infra scouting for strategic partners grows louder, Hong Kong-headquartered brokerage and investment group CLSA has picked up a total 6.86% equity in the company. CLSA is learnt to have mopped up the entire equity through open market transactions in the month of July through its Mauritius arm CLSA (Mauritius) Limited.
The investment firm picked up 22,22,500 shares of Maytas Infra, amounting to 3.78% of the total paid up capital on Thursday for a consideration of a little over Rs 17 crore.CLSA had lapped up 18,12,581 shares or 3.08% stake in the company sometime between July 1 and 22, 2009.
As of June 30, 2009, with a 1.62% stake holding, Citigroup Global Markets Mauritius Pvt Ltd was the only foreign institutional investor holding over 1% equity in Maytas Infra. In fact, Citigroup Global Markets upped its equity holding from 1.59% in the January-March 2009 quarter to 1.62%. Incidentally, the total FII holding in the company for the April-June 2009 quarter stood at just 3.43%, up from the total FII holding of 2.55% in the Jan-March 2009 quarter.
Incidentally, IFCI Ltd has halved its equity holding in Maytas Infra from 17.42% in the January-March 2009 quarter to 8.44% (in the April-June 2009 quarter. However, IL & FS Financial Services Ltd continues to hold a 14.5% stake in the company.
As of June 30, 2009, other investors with stakeholding in Maytas Infra include Sicom Ltd with a 5.27% equity and HDFC Growth Fund with 1.29% stake.