SBI Mutual Fund Acquires Over 6% Stake in V.I.P. Industries
SBI Mutual Fund on June 20, 2024 acquired 6% Stake in V.I.P. Industries prior to this SBI mutual fund held 4.3% stake in VIP Industires.
by Damodharan N
Updated Jun 25, 2024
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SBI Mutual Fund has significantly increased its holding in V.I.P. Industries, acquiring 2,381,791 shares on June 20, 2024. This acquisition boosts SBI Mutual Fund's total stake to 6.0239% of V.I.P. Industries' paid-up share capital.
The acquisition, detailed in a report submitted to V.I.P. Industries' Company Secretary, Mr. Anand Daga, highlights a strategic move by SBI Mutual Fund to strengthen its position in the company. Prior to this transaction, SBI Mutual Fund held 4.3462% of V.I.P. Industries' voting rights.
This substantial increase underscores the mutual fund's confidence in the growth potential and financial stability of V.I.P. Industries, making it a noteworthy development for investors and shareholders.
Key Details:
- Total Shares Acquired: 2,381,791
- Total Holding Post-Acquisition: 8,552,238 shares
- Percentage of Paid-Up Share Capital: 6.0239%
- Mode of Acquisition: Market Purchase
This acquisition indicates a robust endorsement of V.I.P. Industries' market prospects by one of India's leading mutual funds, likely influencing market sentiment and share value positively.
You can find the link about details for this purchase here.
SBI Mutual Fund
SBI Mutual Fund, established with 36 years of expertise in fund management, is a partnership between the State Bank of India (SBI) and AMUNDI (France), a renowned global fund management company. SBI holds a majority stake of 62.21%, while AMUNDI holds 36.54% through its subsidiary, Amundi India Holding, with the remaining 1.25% owned by others.
Our services encompass a wide range, including managing domestic and offshore mutual funds, offering alternate investment funds, and providing portfolio management advisory services for institutional investors. With a commitment to global best practices and international standards, we strive to build SBI Mutual Fund as a leading asset management company worldwide.
V.I.P. Industries
VIP Industries Limited, established in 1968, is a global leader in manufacturing and retailing luggage, backpacks, and handbags. Based in Mumbai, India, we have a strong presence in over 45 countries. Our success is driven by continuous innovation, quality products, and a wide distribution network.
We are known for our brands like VIP, Carlton, Skybags, Aristocrat, Caprese, and Alfa, each catering to different customer preferences and offering a range of products from value to premium segments. With a focus on meeting the evolving needs of travelers and style-conscious individuals, we aim to be the global leader in the travel products business.
SBI Mutual Fund Acquires Over 6% Stake in V.I.P. Industries - FAQs
1. What is the percentage of V.I.P. Industries' paid-up share capital acquired by SBI Mutual Fund?
SBI Mutual Fund acquired 1.6776% of V.I.P. Industries' paid-up share capital.
2. What is the total stake of SBI Mutual Fund in V.I.P. Industries after the recent acquisition?
After the acquisition, SBI Mutual Fund's total stake in V.I.P. Industries is 6.0239%.
3. How many shares did SBI Mutual Fund acquire on June 20, 2024?
SBI Mutual Fund acquired 2,381,791 shares of V.I.P. Industries.
4. What was the holding of SBI Mutual Fund in V.I.P. Industries before the acquisition?
Before the acquisition, SBI Mutual Fund held 4.3462% of V.I.P. Industries' paid-up share capital, amounting to 6,170,447 shares.
5. On which stock exchanges are V.I.P. Industries' shares listed?
V.I.P. Industries' shares are listed on BSE Ltd and the National Stock Exchange of India Ltd.
6. What is the face value of V.I.P. Industries' equity shares?
The face value of V.I.P. Industries' equity shares is Rs. 2 each.
7. What was the total number of equity shares of V.I.P. Industries before and after the acquisition?
The total number of equity shares of V.I.P. Industries remained the same before and after the acquisition, at 14,19,72,601 shares.
8. What is the mode of acquisition used by SBI Mutual Fund for this transaction?
The acquisition was made through a market purchase.
9. Who is the acquirer in this transaction?
The acquirer is SBI Mutual Fund under its various schemes.
10. When did SBI Mutual Fund acquire the shares of V.I.P. Industries?
SBI Mutual Fund acquired the shares on June 20, 2024.