VST Industries – headquartered in Hyderabad, VST manufactures and distributes cigarettes. It started off as the formerly Vazir Sultan Tobacco Company, commonly known as VST. It has a collaboration with the BAT Group, UK.
Smallcap World Fund – which held 620,000 shares representing 4.02% of the share capital, reduced its stake to 393,424 shares or 2.55%. This would value the sale at Rs. 38 Crore. The buyer of this stake is ICICI Lombard General Insurance.
Smallcap World Fund is one of few small-company growth funds that invests globally. Normally, at least 80% of assets will be invested in equities of issuers having market capitalizations of $4 billion or less, measured at time of purchase.
SmallCap World Fund is managed by American Funds – an American investment management firm of mutual funds, variable annuities, individual retirement plans, 529 plans and other forms of investments. The company’s investment products focus on its actively managed mutual funds by Capital Research & Management Company, part of the Capital Group Companies, and only offer their products through financial advisors.
Here are the other holdings of the fund:
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