Radhakishan Damani has increased its investments in India Cements and Sundaram Finance Limited.
Billionaire investor Radhakishan Damani seems to have invested long-term money in two Chennai-based corporate houses. He has expanded his stake in The India Cements Limited (ICL) led by N Srinivasan. So at the same time, he has invested his money in Sundaram Finance Limited (SFL), one of the most powerful and reputed non-banking finance companies in the country.
He also holds equity shares in Sundaram Finance Holdings Limited (SF Holdings), a holding company of TS Santhanam Wing TVS Group. We would like to inform you that the four families operating the TVS group have recently legally separated and all of them have chosen their separate path.
As of December 31, Damani brothers – Radhakishan Damani, Shivkishan Damani and Gopikishan Damani – have a total stake of 21 per cent or 6,54,98,190 shares in India Cement.
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The Damani brothers may have quietly raised their stakes, but the South Indian cement company is looking at their investment in a big positive light. Based on their stake in The India Cement, the Damani brothers may also have acquired some stake in Chennai Super Kings (CSK), which The India Cements has recently transformed into a separate company.
As of December 31, the Damani brothers owned 26,30,434 shares of SFL. He bought the shares through his investment company, Bright Star Investment Pvt. Ltd.
It is noteworthy that he has also invested in TS Santhanam Wing, a holding company listed on SF Holdings. Damani has also invested in SF Holdings through Bright Star Investments. At the end of December 2021, its stake in it increased to 1.88 percent. Where as of March 2021, Bright Star had a 1.74 percent stake.
Shares of SFL closed at Rs 2,096.40 on the BSE on Tuesday. On the other hand, shares of SF Holdings closed at Rs 75.15 on the NSE. Shares of The India Cement closed at Rs 225.05 on the BSE on Tuesday.
It also indicates that Damani has invested in these companies, headquartered in Chennai, from a long-term perspective. According to sources, the manner in which Damani has chosen to invest in these companies headquartered in Chennai indicates a long-term investment.