High profile stock broker Rakesh Jhunjhunwala has picked up a 5.28 per cent stake in Mid-day Multimedia, the company which runs daily eveninger Mid Day in Mumbai, for Rs 11.26 crore.
In a notice to the stock exchanges, Mid-day Multimedia said Jhunjhunwala purchased 22.50 lakh shares in the company on Tuesday.
BSE data showed that Jhunjhunwala purchased the shares at an average price of Rs 50.07 a piece in a block deal.
According to the BSE data, sellers included Alok Agrawal (2.90 lakh shares), Khalid AH Ansari (4.50 lakh shares), Rukya Ansari (4.50 lakh shares), Shariq Ansari (4.50 lakh shares), Tariq Ansari (4.50 lakh shares) and Tehzeeb Grossman (4.50 lakh shares).
The Ansari family, promoters of the company, held a 68.91 per cent stake in the company as on September 30, 2004.
Alok Agrawal, on that date, held a 1.65 per cent stake.
In October 2004, the Bennet Coleman & Co, which publishes The Times of India and a clutch of other newspapers and magazines, had picked up a 6.15 per cent stake in the company.