Fidelity buys stakes in Satnam Overseas

Mumbai, May 8 (UNI) Fidelity International has purchased 1,40,000 shares of Satnam Overseas - a food brand - amounting to 0.70 per cent of the total paid up equity capital, taking its total stake to 8.74 per cent in the company.

The current shareholding pattern of Satnam Overseas reflects a promoter holding of 44.12 per cent, while domestic institutions hold 8.63 per cent. FIIs hold 8.74 per cent and public holds 38.51 per cent of paid up equity share capital of Rs 19.60 crore, a company release issued here today said.

Company's Managing Director Gurnam Arora said, ''We have reported consistent growth in revenues for last two years. We have also de-risked our business model by foraying into ready to eat food segment.'' The company has recently announced setting up of frozen food processing facility at Bahalgarh in Sonipat, Haryana.

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