The biggest independent Wall Street firm, Goldman Sachs on October 8 bought an additional Rs 357.5 million worth stake in ICSA India, at 28% premium to the company`s stock price, reports Business Standard.
Goldman Sachs acquired stake by exercising an option to convert warrants into equity. It was allotted 1.75 million shares in ICSA raising the investment banks` stake to 5.7%. The warrants were converted at a price of Rs 227 each. Goldman had paid 10% of the value earlier, or at the time it was issued the warrants. (My Iris)