Rising for the second day on Friday, shares of BPO service provider Firstsource Solutions shot-up nearly 8 per cent following ace investor Rakesh Jhunjhunwala’s picking up nearly 4 per cent stake in the company for an estimated Rs. 25 crore.
After surging 13 per cent in intra-day trade, the stock pared some of its initial gains and finally ended at Rs.12.50, up 7.57 per cent from its previous close on the Bombay Stock Exchange. At the NSE, the scrip ended 6.90 per cent higher at Rs.12.40. In the previous session also, the stock had rallied by 20 per cent.
A total of 2.5 crore shares (representing 3.8 per cent stake) of Firstsource Solutions were acquired by Jhunjhunwala, as per the bulk deal information with the stock exchanges on Thursday.
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The shares were purchased at an average price of Rs.10 apiece, amounting to Rs.25 crore.
Two shareholders of Firstsource Solutions, ICICI Bank and Aranda Investments Mauritius, offloaded a total of 3.3 crore shares for nearly Rs.33.2 crore.
ICICI Bank offloaded 1.3 crore shares (about 2 per cent stake) of Firstsource Solutions in a transaction worth Rs.13 crore, while Aranda Investments Mauritius sold little over 2 crore shares (3.07 per cent holding) of the firm for Rs.20.2 crore.
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As of January-March quarter, ICICI Bank held 4.52 crore shares of Firstsource Solutions (6.88 per cent stake), while Aranda held 2.20 crore shares (3.35 per cent stake) in the company.
Another entity OHM Enterprises acquired 40 lakh shares of Firstsource Solutions, and sold 8 lakh shares of the company in a bulk deal.