Merrill Lynch ups holding in Vakrangee Softwares

Merrill Lynch ups holding in Vakrangee Softwares
18 Feb, 2008, 2047 hrs IST, PTI

MUMBAI: Global investment firm Merrill Lynch has increased its holding in Vakrangee Softwares to 7.72 per cent, taking the total FII holdings in the document and printing management solutions provider to 39.49 per cent.

As of February 16, FIIs have acquired 75 lakh shares representing 39.49 per cent of the share capital of the company, Vakrangee Softwares said in a release here on Monday.

Premier global institutions like Morgan Stanley, Goldman Sachs Investments (Mauritius) and Merrill Lynch Capital hold more than five per cent stake each in the company. The three institutions hold a 9.73 per cent, 9.51 per cent and 7.72 per cent stake, respectively.

Other FIIs holding a stake in Vakrangee are CLSA Mauritius Ltd (4.51 per cent), Deutsche Securities (Mauritius) (2.37 per cent), Melchior Indian Opportunities Fund (2.09 per cent), Himalayan Fund N V (0.65 per cent) and Planetary (Mauritius) Ltd (0.52 per cent).

Holdings of Indian financial institutions have also increased to 9 lakh shares representing 4.80 per cent of the share capital.

The institutions holding stakes are Prudential ICICI Trust (1.60 per cent), HSBC Assets Management (1.25 per cent), Axis Bank (1.13 per cent), ING Vysya Mutual Fund (0.50 per cent) and DSP Merrill Lynch Trustee Co Pvt Ltd (0.32 per cent), the release said.