*India Discovery Fund *bought 1.5% in *Gokak Textiles *in an open market transaction at Rs.45 per share. The value of the transaction was around $0.1 mn.
Gokak Textiles is the demerged textile division of Forbes Gokak Ltd. (now *Forbes & Co.*), which was listed on BSE post demerger in October 2007. The Gokak textile division is a almost a century old and 50% of the production is exported. It makes dyed yarns, yarn products, canvas and knitted wear. It is part of the Forbes group, which promoted by *Shapoorji Pallonji Family. * India Discovery Fund (IDF) is a Mauritius based fund managed by *Bay Capital Partners*. It is an India focused fund which makes direct and indirect investments in listed or mid market companies across India. It also hold a 5% stake in Forbes & Co. Transaction Reference: BSE Transaction Note IDF was involved in the *Sterling Holiday Resorts *open-offer in July 2009 as a co-acquirer along with a fellow Bay Capital fund *India Hospitality Fund* (IHF). It also funded IHF’s acquisition by investing in IHF shares. IDF currently owns 4% in Sterling Holiday Resorts, while IHF owns 18.8%. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
