The Hindu Business Line : KS Oils sees new FII flows

In the past one week, Goldman Sachs picked up 96 lakh shares, or 2.51 per cent stake, from the market of the recently-enhanced paid-up capital of Rs 39.66 crore. In July, the company issued shares to a private equity player, New Silk Route Partners. It also picked up GDRs.

As a result, the shareholding pattern during this quarter has changed.

Among the public shareholders, New Silk Route holds the highest, 10.17 per cent. But because of enhanced capital, promoters’ and other existing investors’ holdings have come down.

Promoter group’s holding has come down from 38.23 per cent to 34.34 per cent. Citigroup Venture Capital International Growth Partners’ holding is 5.22 per cent against 5.81 per cent at the end of June. Baring Pvt Equity Asia III Mauritius holdings is 5.42 per cent (6.03 per cent). Deutsche Securities Mauritius now holds 1.72 per cent (1.92 per cent). Morgan Stanley Mauritius Investment has 2.22 per cent (2.47 per cent).

Copthall Mauritius Investment’s stake has come down to 1.20 per cent from 1.34 per cent. Caam Funds India is down to 1.26 per cent from 1.40 per cent.

Citigroup Global Markets has 1.01 per cent (1.13 per cent). Religare Finvest’s stake has slipped to below one per cent – 0.98 per cent (1.09 per cent).

It is not clear from whom Goldman Sachs bought the stake. But it had to pay more than what New Silk Route had.

Warrant

On September 18, Goldman Sachs bought 56 lakh shares at Rs 58.75 a share, while on September 22 it purchased 40 lakh shares at Rs 62 a share. The stock has moved up around 10 per cent in the past week to Rs 64.80 on the BSE.

Promoters, Baring and CVC have picked up warrants in July, which are likely to be converted in the January-March quarter of 2011. The exercise price for conversion of warrants to promoters is Rs 54.50 a share, and for Baring and CVC is Rs 56.50 a share. The conversions would increase the paid-up capital and call for another round of change in shareholding.

The edible oil producer company is expected to begin shipment of crude palm oil from its Indonesian plantations to its refinery at Haldia in 2013.

Mr Sanjay Agarwal, Managing Director, told Business Line that the company recently begun shifting oil palm saplings from nursery to the field. It has 85,000 acres in Indonesia for oil palm cultivation.

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