Rakesh Jhunjhunwala might have sold Escorts stake


Rakesh Jhunjhunwala has booked profits in tractor manufacturer Escorts during March 2022, suggesting the company’s latest shareholding pattern. As of March 31, 2022, Jhunjhunwala’s name did not appear on the list of key shareholders.

As of December 31, 2022, Jhunjhunwala owned 75,00,000 equity shares or 5.68 percent of the company. He has been holding this counter for a long time.

Every quarter, companies must list the names of investors with a 1 percent stake or more in the company.

Escorts’ latest shareholding pattern, for the January-March quarter, did not include Rakesh Jhunjhunwala’s name. Earlier, Rakesh Jhunjhunwala held a 5.68% stake in the company with 75 lakh equity shares.

The Big Bull had increased his stake in the company in recent quarters from 5.22% earlier. Listed companies are required to provide details of the shares held by investors whose shareholding in the company amounts to more than 1%.

Despite rising 33 per cent in the last year, shares of Escorts have tumbled more than 15 per cent during the current year 2022. The counter last traded at Rs 1,609.65 on Friday.

Kubota, a Japanese company, is in the process of becoming a co-promoter of Escorts. By the middle of February, the company owned 16.73% of Escorts. Kubota’s stake increased to 55.82% with 7.36 crore equity shares according to the latest shareholding data.

Domestic mutual funds have also either exited the company or tendered their shares in the open offer along with Rakesh Jhunjhunwala.Along with Rakesh Jhunjhunwala, domestic mutual funds have also either exited the company or tendered their shares in the open offer. In the last quarter, domestic mutual funds owned 8.43% of the company, but now they own 0.28%.

On March 28, 2022, the tendering period for the open offer ended. By April 11, shareholders must be informed of the rejection/acceptance and completion of the payment of consideration or refund of Equity Shares.

Other Investment

His better half, Rekha Rakesh Jhunjhunwala, held 2,62,500 equity shares or a 1.11 per cent stake in the company during both quarters.

In Q4FY22, the duo owned 19,97,925 equity shares, or 8.48 per cent of the company, worth Rs 16.5 crore, the same as Q3FY22.

In the last year, Bilcare’s shares have rallied by about 60 percent. However, the counter has remained flat in 2022, rising by just 2 percent. The scrip closed at Rs 82.45 on Friday.

Bilcare specializes in the manufacture of specialty pharmaceutical packaging barrier films. Pharmaceutical research, clinical services, and packaging systems and materials are offered by the company.

Rakesh Jhunjhunwala and associates held 35 stocks with a net worth of over Rs 33,654.5 crore as of the latest corporate shareholdings filed so far, according to Trendlyne.