HSBC Global's stake in Maruti Suzuki dips below 5%

The stake holding of HSBC Global Investments Fund in the country's largest carmaker Maruti Suzuki India has gone below 5 per cent after the investor sold off nearly two lakh shares last month.

In a filing to the BSE, Maruti Suzuki India said HSBC Global Investments Fund Mauritius Ltd had sold 1,99,198 shares in the open market on June 29.

Post the sale, Global Investments Fund's stake in MSI stands at 4.99 per cent, down from 5.06 per cent earlier.

While MSI did not specify the value of transaction, based on its closing share price of Rs 1,169.75 on BSE on June 29, it is estimated to be worth Rs 23.3 crore (Rs 233 million).

As on June 2012, Suzuki Motor Corp held 54.21 per cent stake in MSI, while the public shareholding in the company is 45.79 per cent with foreign institutional investors accounting for 36.71 per cent and domestic institutional investors holding 16.42 per cent stake, while the remaining 9.08 per cent is with non-institutions.

Shares of Maruti Suzuki India closed at Rs 1,194.95 on the BSE, down 0.67