Search the Internet          Tips  Sites: Finance, Investment

Chhabria pie up in 3 firms

Sambit Saha & Ishita Ayan Dutt

Takeover tycoon Manohar Rajaram Chhabria had raised his stake in three of his group companies, Falcon Tyres, Hindustan Dorr-Oliver and Mather & Platt (India), before his premature demise on Saturday.

Chhabria had increased his holding in Falcon Tyres by 10.68 per cent in 2001-02, as promoters' stake went up from 67.3 per cent in March 31, 2001 to 78.02 per cent in March 2002.

During the same period, the holding of private corporate bodies went down from 12.28 per cent in March 01 to 1.05 per cent on March 02.

Chhabria's stake in engineering company Mather & Platt (India) Ltd also went up in April-December 2001. The combined promoter holding rose by 6.22 per cent, from 51 per cent in March 31, 2001, to 57.22 per cent in December 31, 2001.

The category of 'persons acting in concert' registered 6a .16 per cent increase, from zero in March '01 to 6.16 per cent December '01.

In Hindustan Dorr-Oliver, where Chhabria inducted daughter Bahvika Godwani onto the board, Chhabria's holding went up by 0.97 per cent in April-December 2001. Promoters' stake remained same at 66.67 per cent during the period.

Similarly, Chhabria's stake in other three listed companies, Shaw Wallace, Dunlop India and Gordon Woodroffe, showed negligible movement in April-December 2001.

Promoter stake stayed at 44.28 per cent in Dunlop and 88.7 per cent in Gordon Woodruffe during the nine months.

However, promoter's stake in Shaw Wallace, Chhabria's most profitable venture in India, went up by 0.49 per cent, from 53.36 per cent on March 31, 2001, to 53.85 per cent as on December 31, 2001.

Powered by

ALSO READ:
Manu Chhabria: A fierce fighter till the end
The show must go on, Chhabria had said
Tycoon could not turn into a Goliath
Industrialist Manu Chhabria dead
Manu Chhabria cremated
The Rediff Budget Special
The Rediff-Business Standard Special
Money

Tell us what you think of this report