Rakesh Jhunjhunwala Exits Zen Technologies
Jun 12, 2013 | 18:31 PM IST
Jun 12, 2013 | 18:31 PM IST
Billionaire investor Rakesh Jhunjhunwala, who reviewing and revamping his portfolio of late, has made a surprise announcement that he is exiting completely from the Hyderabad-based weapons and defence simulators manufacturing company Zen Technologies. He along with his family hold somewhere around 10.14% stake in the company.
Rakesh and his wife Rekha Jhunjhunwala had 5.07% holding of equal stakes each for the last many years in the company. The company's clients include para-military, armed forces, state police forces, special forces, to name few. And some driving and security training schools and infrastructure and mining firms.
In a communication to stock exchanges Jhunjhunwala along with some associates have sold 9 lakh shares of Zen Technologies that amounting to 10.14 per cent of the total paid-up capital of 88.69 lakh shares.
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