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Dr. Senthilverl buys 10% stake in Panasian Power

17 November 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

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High net worth investor Dr. T. Senthilverl has invested in a 10 percent stake in mini hydropower producer Panasian Power PLC.

As at September 30, 2015, Snthilverl’s name didn’t feature among the top 20 shareholders of Panasian Power.

A stock exchange filing from Senthilverl’s broker SC Securities yesterday said, total shares held by him in Panasian Power was 50, 962, 281, which represented 10.19 percent.

The single largest shareholder of Panasian Power, Resus Energy PLC (former Hemas Power) this Monday said it divested 35 million Panasian shares at a price of Rs.3.80 a share during the first two weeks of this month.

As at September 30, 2015, Resus Energy held 146.5 million Panasian Power shares, representing 29.30 percent. 

Panasian Power does not have a controlling shareholder and as a result the company is constantly subject to various market speculations. 

For the September quarter (2Q16), Panasian Power saw its net profit dipping as much as 81 percent yoy to Rs.9.66 million amid a slower top line growth. 
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