Standard Chartered Private Equity said it has picked up 9.9 per cent stake for about Rs 352 crore through open market transaction in Chennai-based IT and non-IT products distributor Redington India. The private equity firm picked up 3.9 crore share of Redington on July 4 through open market operation,Standard Chartered Private Equity (Mauritius) Ltd said in a filing to the Bombay Stock Exchange (BSE). The share price of Redington India closed at Rs 88.50 per share at the end of trading session of the BSE on July 4. Set up in 1961,the USD 4 billion Redington is part of the Singapore-based Kewalram Chanrai Group. Shares of Redington today closed at Rs 87.95,up 0.8 per cent on the Bombay Stock Exchange.
