Emerging Market Fund Acquires 1.4% Stake in Borana Weaves through Pine Oak Global Fund Investment

Craft Emerging Market Fund Acquires 1.4% Stake in Borana Weaves

On March 11, Craft Emerging Market Fund's two investment vehicles, Citadel Capital Fund and Elite Capital Fund, acquired a combined 1.4% equity stake in Borana Weaves, a greige polyester woven fabric maker. The stake was purchased through open market transactions, with Citadel Capital Fund and Elite Capital Fund each acquiring 1.87 lakh shares at a price of Rs 396 per share, totaling Rs 7.4 crore.

The stake was sold by Pine Oak Global Fund, a Mauritius-based arbitrage fund, which had previously held a 1.87% stake in Borana Weaves as of December 2025. The stake was valued at Rs 14.85 crore.

Key Figures:

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• Borana Weaves shares finished at Rs 398.9 on the National Stock Exchange, up 0.06% amid high volumes.
• Citadel Capital Fund and Elite Capital Fund acquired a combined 1.4% stake in Borana Weaves for Rs 7.4 crore.
• Pine Oak Global Fund sold a 1.4% stake in Borana Weaves for Rs 14.85 crore.

Prodocs Solutions

In a separate transaction, Lords Multigrowth Fund sold a 0.56% stake in Prodocs Solutions, a non-voice BPO company, for Rs 74.52 lakh. 31 Degrees North Fund I also sold a 1.54% stake in the company for Rs 1.99 crore.

Key Figures:

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• Lords Multigrowth Fund sold 40,000 shares at Rs 186.3 per share.
• 31 Degrees North Fund I sold 1.09 lakh shares at Rs 183 per share.
• Hitesh Natwarlal Kawa acquired a 1.22 lakh shares stake in Prodocs Solutions for Rs 2.23 crore.
• Roopal Hitesh Kawa acquired a 65,000 shares stake in Prodocs Solutions for Rs 1.21 crore.