ECL Finance Limited bought 7,950,000 shares of Redington (India) at Rs. 91.90 on the BSE. The Standard Chartered Pvt. Equity Mauritius Ltd bought a whopping 39,736,500 shares at Rs 91.89 on the BSE.

The SC Bank's private equity arm has bought 10% staking in Redington India. The SC Bank is the oldest distributor of IT products in the country for Rs 365 crore.

Redington Mauritius has sole 3.05 crore Redignton India shares at an average of Rs 91.90 a piece. That is about a 4% premium to the scrip's closing price of Rs 88.50 on BSE on Monday.

Shareholders of Redington include Chanrai Investment Corporation that owns 70% of the shares, director of the Kewalram Chanrai Group that holds 15% and R Srinivasan, Redington India's Managing Director who holds a 15% of the share holdings.

R Srinivasan, managing director of Chennai-based Redington, stated: "We had requested our two large shareholders to bring down their stakes less than 26%. They acceded to the management request and brought down their share".

Overall Redington's equity has changed close to 12%. Purchase price marks a premium of 4% which is set for the closing price of Redington scrip on Friday.