Lionhart sheds 6% of ERI stake

Tuesday, 16 October 2012 00:00 - - {{hitsCtrl.values.hits}}

Lionhart Investments Ltd., yesterday sold 6% stake in ERI with foreign fund Caledonian Securities collecting the block.

Around 20 million of ERI shares were done at Rs. 15.30 each in a deal worth Rs. 305 million.

An equal quantity of Warrants 0003 and Warrants 0006 around were also done at Rs. 4.90 and Rs. 5.30 each, in a combined deal worth Rs. 203 million.

In recent months Lionhart has been selling down on ERI. As at June Lionhart's stake in ERI was 74.57%, down from 85% a year earlier. With yesterday's sale and recent shedding, Lionhart is estimated to be having around 60% stake.