Why is Soma Textiles buzzing?......

There have been several large block deals in SomaTextile where more than 10% of the company's equity has changed hands. What's buzzing there? CNBC-TV18 tries to find out. The promoters of Soma Textiles have bought 12.13% stake. CNBC-TV18 learns that the promoters want to hike their stake to 35-40%. They had already bought nearly 3% stake in January 2006 and control nearly 22% stake as of now. If one looks back, the company had allotted 1.85 crore GDRs worth USD 17.29 million to the depository - Deutsche Bank Trust Co in October 2006. Deutsche Bank Trust Co holds 47.5% stake as of December 2006. It had also converted 20 lakh GDR into shares and issued to Lotus Global Investment.