AIF, Credit Suisse, Integrated Core Strategies, Societe Generale sell substantial shares in SJS Enterprises

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Foriegn investors like Alternate Investment Funds, Credit Suisse Singapore Ltd, Integrated Core Strategies Asia Pte and Societe Generale are missing in SJS Enterprises' latest December quarter shareholding data.

However, it is unclear whether they have sold their entire shareholdings in the firm or its ownership has come down to less than one percent. Publicly-listed companies only list the names of investors who own more than one percent stake in the company.

According to the September quarter shareholding data, Alternate Investment Funds held 4.28 lakh shares, or 1.41 percent stake, in SJS. Credit Suisse Singapore had 1.59% stake, or 4.85 lakh shares, while Integrated Core Strategies Asia Pte has 1.29% stake or 3.93 lakh shares in the firm.

Societe Generale has 1.19% stake or 3.62 million shares. At the time of listing Societe Generale had bought 1.38 lakh shares in its anchor book at Rs 7.50 crore.

Axis Mutual Fund Trustee also sold 56436 shares during the quarter. Currently it holds 7.41% stake from 7.6% stake earlier.

Meanwhile, Mirae Asset Equity Savings Fund bought nearly 8.3 lakh shares or 2.72% stake in the firm while Aditya Birla Sun Life Insurance and Goldman Sachs Fund India equity portfolio added 2.47 lakh and 2.55 lakh shares respectively in the quarter.

SJS Enterprises raised around  Rs 800 crore through its public issue, which was entirely an offer for sale by Evergraph Holdings Pte Ltd (Rs 710 crore) and KA Joseph (Rs 90 crore). The firm listed on 15 November and its issue price was at Rs 542 a share. The share sale got a lukewarm response with subscribing nearly 1.59 times.

Currently its stock is trading at Rs 411 on BSE, down over 24% from its issue price.