CLSA buys 10.92% stake in Sanghvi Movers

Business Standard reports that foreign fund CLSA Capital Partners has bought 10.92% stake in mid-cap Sanghvi Movers, a flagship of the Sanghvi Group, one of Asia’s largest crane-hiring companies. The board of Sanghvi Movers has allotted 8.8 lakh equity shares of the company at Rs. 825 a share, aggregating to Rs 72.6 crores to Goldpeak, a subsidiary of Aria Investment Partners III, which is one of CLSA Capital Partners’ funds, on a preferential basis.