Wilbur Ross picks up 18.4L Satyam ADRs

HYDERABAD: Billionaire Wilbur L Ross Jr may have lost out to the Mahindras in the race to acquire the scam-hit Satyam, but he still seems to be sold on the Hyderabad-based IT company.

The tycoon has mopped up over 18.44 lakh ADRs of Satyam on NYSE through his private equity firm WL Ross & Co. Ross’ parent company Invesco told SEC in a recent filing that WL Ross had picked up the Satyam stock at prices ranging from $1.77 to $3.67, which comes to an average of $2.5 per ADR and works out to an investment of $4.6 million or nearly Rs 22.5 crore.

With this, the Satyam scrip accounts for 1.36% of Ross’s portfolio and ranks fifth among top five holdings