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.

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

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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.