Goldman Sachs picks up 5.39% stake in HFCL | india | Hindustan Times
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Goldman Sachs picks up 5.39% stake in HFCL

Mauritius-based Goldman Sachs Investments has acquired 5.39 per cent stake in Himachal Futuristic Communications Ltd.

india Updated: Apr 12, 2006 13:47 IST

Himachal Futuristic Communications Ltd (HFCL) on Wednesday said Mauritius-based Goldman Sachs Investments, has acquired 5.39 per cent stake in the company.

Goldman Sachs has acquired 1.88 crore shares of Himchal Futuristic through open market purchases, HFCL informed the Bombay Stock Exchange.

The company also informed the final tranche amounting to $10 million of HFCL's $43 million FCCB offering has been allotted on April 10.

The first tranche of $33 million was allotted on March 7. This completes the company's FCCB fund raising programme, split into two tranches of $33 million and $10 million respectively, aggregating to $43 million.

The company's share price was trading at Rs 34.05, up 2.71 per cent at the BSE.