Norges Bank Invests Rs 284 Crore In Five Companies
The investments were made in CMS Info Systems, Electrosteel Castings, Voltamp Transformers, South Indian Bank and Gokaldas Exports.
Norges Bank invested Rs 284 crore in five listed companies by mopping up shares from the secondary market on Friday.
The Norwegian central bank acquired 1.39% equity in cash management services provider CMS Info Systems Ltd. for Rs 84.40 crore and a 0.76% stake in power transmission equipment maker Voltamp Transformers Ltd. for Rs 63.71 crore.
The bank also shelled out Rs 46.32 crore for a 0.75% shareholding in Kerala-based South Indian Bank Ltd. Additionally, it acquired about 0.69% ownership in metal pipe maker Electrosteel Castings Ltd. for Rs 64.73 crore and about 0.57% stake in Gokaldas Exports Ltd. for Rs 25.45 crore.
The equity acquisitions were made through bulk deals, as reported on the NSE.
The Norges Bank manages the Government Pension Fund Norway—the world's largest sovereign wealth fund.