Superstar Investor Alert: Rakesh Jhunjhunwala buys 1.59% stake in Canara Bank
Ace stock market investor Rakesh Jhunjhunwala has bought 1.59% stake in Canara Bank as per data from BSE.
As per data filed on the stock exchange portal, Jhunjhunwala, widely known as ‘Big Bull’ has bought 2,88,50,000 shares of the public sector bank. Canara Bank recently closed a Rs 2500 crore qualified institutional placement (QIP) offer and allotted 16.73 crore shares to investors.
As per the filings, the QIP issue was allotted to the investors at Rs 149.35 per share. The QIP issue opened on August 17 and closed on August 23. Besides Rakesh Jhunjhunwala, the QIP issue was subscribed by large institutional investors like state-run insurer LIC, Societe Generale, Indian Bank, Volrado Venture Partners, Morgan Stanley Asia (Singapore) Pte and ICICI Prudential Life Insurance.
LIC was the largest investors and subscribed to 15.91 % of the QIP issue, followed by 12.55% by BNP Paribas Arbitrage, 7.97% of Societe General. Shares of Canara Bank were trading at Rs 151.50, down 2.7%.
Rakesh Jhunjhunwala is listed third in the Trendlyne Superstar Investors listing with a neworth of Rs 19,670 crore, while his wife Rekha Jhunjhunwala has a networth of Rs 4319.05 crore as per latest data.
Jhunjhunwala is known for his successful wealth creation through investments in Titan Company Ltd, Tata Motors Ltd and Crisil Ltd. To know more about his latest portfolio read our earlier story.
To know more about other superstar portfolios read these stories.
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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