India Max Investment Fund on Thursday raised its holding in non-banking financial services company LKP Finance, by picking up additional 3 lakh shares for nearly Rs 2 crore.
As per bulk data available with the stock exchanges, India Max Investment Fund, which held 6.73 stake in LKP Finance at the end of September 30, 2012, purchased three lakh shares (amounting to 2.31 per cent holding) in the NBFC firm from a shareholder Bela Properties.
The shares were purchased on an average price of Rs 62.5 apiece aggregating the deal size to Rs 1.87 crore.
As of September quarter, Bela Properties owned five lakh shares or 3.85 per cent stake in LKP Finance.
Shares of the NBFC firm surged by 4.17 per cent to settle at Rs 62.50 apiece on the BSE.