ITF bought 676025 shares at a price of R475.37 per share, which amounted to R32.14Cr.
Acacia Partners sold 663525 shares (4.01%) at a price of R475 per share and representing a sale of R31.51 Cr. It sold the shares through its multiple entities like Acacia Partners LP (233525 shares), Acacia Institutional Partners LP (147000), Acacia Conservation Fund LP (169000) among others. It held 4.06% stake in the company as on June 2012 and thus the sale depicts an exit by the foreign firm.
Some of the significant stakes held by Acacia in Indian companies are Radico Khaitan Ltd. (7.71%), Vindhya Telelinks Ltd. (7.83%) as on June 2012 and Vadilal Industries Ltd. (5.83%) as on March 2012.
Other major stakeholders in Advanta include ICICI Prudential Life Insurance (4.93%) and New Leaina Investments (4.98%) to name a few.
Advanta India Limited is an associate company of United Phosphorus Limited – an Indian agrochemical company with a group turnover of R3500 Cr and it is the holding company for the global business of Advanta. It was established as ITC Zeneca with the prime objective of conducting research, development, production and marketing of superior high yielding hybrid seeds of crops of national importance.
It acquired the U.S based Crosbyton Seed Company (CSC) for an undisclosed amount in 2010 through its American unit.
Among the peers in agri-seed industry, Super Agri Seeds Pvt. Ltd. received R50 Cr from farm and food focused PE firm Rabo Equity Advisors Pvt. Ltd. in March this year.
