Prior to this sell-off, Lehman's Indian equity portfolio is estimated to have been worth more than Rs 1,000 crore (Rs 10 billion), which has now nearly halved to about Rs 500 crore (Rs 5 billion).
Most of the shares offloaded by Lehman in India, including those in NIIT, Cranes, Amtek Auto, Amtek India and Northgate, has been purchased by Deutsche Bank, according to the bulk and block deal data available with the bourses.
Besides the 10 companies where Lehman has offloaded its shares, Lehman had equity holding in about two dozen firms at the end of June quarter.
These firms include Spice Communications, Spice Mobile, Anant Raj Industries, Edelweiss Cap, IVRCL Infra, Tulip Telecom, Consolidated Construction, PSL, Orbit Corp, Development Credit Bank, Champagne Indage, Godawari Power, KPIT Cummins, West Coast Paper, IOL Netcom, Dhampur Sugar, Prithvi Info, Golden Tobacco, Emkay Global, Vijay Shanti Builders and Pioneer Embroidery.
Image: Workers outside Lehman Brothers' Canary Wharf office on September 15, 2008 in London | Photograph: Cate Gillon/Getty Images
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