Multibagger stock Elitecon International is likely to be in focus on Monday after Mauritius-based Minerva Ventures bought an 8.58% stake in the company. On Friday, the stock closed 1.36% lower at ₹58.19.
In a stock exchange filing, Minerva Ventures said it acquired 13.7 crore shares, equal to an 8.58% stake in Elitecon International, through a mix of warrants and open market purchases.
However, the foreign investor did not disclose how much it paid for the stake in the tobacco company. After this transaction, the total voting share capital of Elitecon International stands at 1,598,500,000 shares.
