Ishara buys 8% of Browns Capital for Rs. 444 m

Browns Investments (BIL) Chairman Ishara Nanayakkara has purchased 111 million shares or 8% stake of Browns Capital (FLCH) for Rs. 444 million.

The deal done at Rs. 4 per share was through Churchill Capital Ltd, in which Nanayakkara is the sole director and shareholder. Subsequent to the above acquisition, Nanayakkara holds a 9.8% stake in FLCH.

Browns Capital Holdings owns 61% stake in Browns Capital.