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Gates Foundation sells stake in India fund

Microsoft chief and software czar Bill Gates' charity organisation has offloaded its entire stake valued at nearly $23.1 million in an India-specific investment fund.

india Updated: May 17, 2006 01:00 IST

Microsoft chief and software czar Bill Gates' charity organisation has offloaded its entire stake valued at nearly $23.1 million (over Rs 100 crore) in an India-specific investment fund, according to a regulatory filing made in Washington on Tuesday.

India Fund invests nearly 80 per cent of its stake in Indian companies and the Bill and Linda Gates Foundation, the charity organisation funded by the founder of global software major Microsoft Corporation, owned a 1.82 per cent stake at the beginning of the quarter ended March 31.

Gates Foundation was the second biggest institutional investor in India Fund at the beginning of the first quarter this calendar year, while Barclays Global Investors UK Holdings was the top investor with a 4.03 per cent stake valued at more than $50 million.

The Gates Foundatiion said in its filing with the US Securities and Exchange Commission on Tuesday that its stock holdings were worth $3.83 billion as on March 31.

Citigroup Inc and Morgan Stanley were other major institutional stakeholders in India Fund at the beginning of 1Q06.