Caledonia Investments has increased its exposure to India with the purchase of a further $15m stake ...
Caledonia Investments has increased its exposure to India with the purchase of a further $15m stake in textile manufacturer Alok Industries. The participation in Alok's foreign currency convertible bond issue at the end of May brings the book value of Caledonia's stake to around £11.5m. Conversion of the bonds would increase Caledonia's holding to around 8.3% of the company on a fully diluted basis. The investment trust, run by chief executive Tim Ingram, operates on a quasi-private equity basis often taking a seat on the board of its investee companies. The trust has net assets of almost...
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