Leading foreign funds like Fidelity, ABN Amro, HSBC, Nomura Asset Management Fund and Emerging Market Fund have together bought around 7.5% in India’s third-largest cement firm India Cements (ICL) for Rs 592 crore. These funds have bought the shares in a placement done by the company to qualified institutional buyers (QIBs). ICL issued 20.78 million shares at Rs 285 per share, including premium, to these QIBs. ABN Amro Securities (India) and Deutsche Equities India were the joint global coordinators for ICL QIB issue. After allotment, the paid-up capital of ICL has increased to Rs 281.16 crore from Rs 260.37 crore. The promoter holding in ICL has been reduced by 2% to 28.42%. […]