Rakesh Jhunjhunwala

Rakesh Jhunjhunwala’s firm RARE ENT buys over 10% stake in Singer India

Rakesh Jhunjhunwala’s firm RARE ENT buys over 10% stake in Singer India

RARE Enterprises buys shares via bulk deal today

Singer India said to be Jhunjhunwala’s last investment decision to buy

Alert
Singer India ~20% equity changed hands on BSE today

#Rakeshjhunjhunwala ‘RARE Invest’ picked stake in SINGER INDIA!

Some Inputs
👉Diversified from a Sewing Machine Brand into Home Appliances
👉Scaled up ‘Appliances’ to 150cr (30% of FY22 revenues)
👉Sold idle land in Jammu for ₹10.4 cr in July 22
👉Debt Free Co

Shares of Singer India Ltd. surged nearly 20% for the second consecutive session after Rakesh Jhunjhunwala’s Rare Investments bought a stake in the sewing machine maker.

Rare Investments bought 42.5 lakh shares in a bulk deal for Rs 53.5 apiece, according to data available on the BSE. Several other firms bought shares too. Singer’s parent Retail Holdings (India) B.V. was the major seller. It offloaded 1.2 crore shares at Rs 53.54 apiece.

The Rakesh Jhunjhunwala investment firm now holds around 8% in Singer India.

Shares of Singer India had jumped 20% on Tuesday on reports of the deal. This was confirmed after market hours. The stock jumped as much as 18.3% on Wednesday to Rs 81.8 apiece.

Rajeev Bajaj of
@SingerIndialtd
says

-Focus is on identifying which levers to use in order to grow
-Will limit to 6-7 categories versus 24 categories currently
-Aim to increase share from 1-2% to 5%

YAARON

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