Shares of SAT Industries rose 4 percent in the morning trade on July 7, hitting a 52-week high at Rs 94.15 after Societe Generale picked a 1.4 percent stake in the investment company.
The Europe-based financial services group Societe Generale bought 16.1 lakh shares, or 1.42 percent stake, in SAT Industries at an average price of Rs 85.05 a share.
At 10.08 am, the stock was trading 3.7 percent higher at Rs 93.2 on the BSE. In the past five days, it has gained around 16 percent.
Earlier, marquee investors, Ashish Kacholia, Vikas Khemani managed Carlenien Fund and Jagdish Master picked up Pre-Initial Public Offer (IPO) stake in Aeroflex Industries.
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Recently, the company sold a 3.55 percent stake in its material subsidiary, Aeroflex Industries, to Carnelian Structural Fund managed by Vikas Khemani and a few others for Rs 35.58 crore.
In May, ace investor Ashish Kacholia bought a stake in Aeroflex Industries. SAT Industries sold a 4.05 percent stake in Aeroflex Industries to Kacholia and Bengal Finance & Investments for Rs 40.56 crore.
IPO of Aeroflex is expected in near time. Along with pre-IPO capital of Rs 75 crore, total fund mobilisation would be approximately Rs 425 crore.
SAT Industries has a presence in a wide range of activities such as manufacturing, global outsourcing of products and services, real estate, mining and marketing activities. Aeroflex Industries manufactures stainless steel flexible flow solutions.
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