Mauritius-based Albula Investment Fund, a PE fund, has picked up close to 7% in Hinduja Foundries. The latter had been looking for funds for some time now.
The Mauritius fund picked up 6.88% of the company?s post-issue paid-up equity capital through the QIP route. It had picked up 50,05,417 shares of Hinduja Foundries on January 29 at R31 a share, amounting to R15.51 crore.
The company had announced a few days ago that its accumulated losses during the December quarter had significantly eroded its net worth.