In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), India Globalization Capital, Inc. (NYSEMKT:IGC) reported that Mukunda Ram has picked up 3,839,633 of common stock as of 2017-05-12.
The acquisition brings the aggregate amount owned by Mukunda Ram to a total of 3,839,633 representing less than 13.96% stake in the company.
For those not familiar with the company, India Globalization Capital, Inc. develops intellectual property for the treatment of life altering or life threatening conditions, through its research on phytocannabinoid-based therapies, in the United States. The Company also builds farming facilities for leasing. In Malaysia, the Company develops and manages residential and commercial real estate. In India, it leases heavy equipment. It is also focused on developing, testing and patenting phytocannabinoid-based pharmaceutical therapies and becoming a specialty pharmaceutical provider of phytocannabinoid-based pharmaceutical and nutraceutical products. It is developing a product portfolio of phytocannabinoid-based therapies for indications, including neuropathic and cancer pain, epilepsy, end of life supportive care, adjunctive supportive therapies of chronic neurological and oncological diagnosis. In Malaysia, the Company’s subsidiary, Cabaran Ultima Sdn. Bhd., is focused on building a five-star hotel, Genting highlands.
A glance at India Globalization Capital, Inc. (NYSEMKT:IGC)’s key stats reveals a current market capitalization of 11.83 Million based on 27.61 Million shares outstanding and a price at last close of $0.405 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2012-08-07, Krishna picked up 50,000 at a purchase price of $0.20. This brings their total holding to 1,068,461 as of the date of the filing.
On the sell side, the most recent transaction saw Oliveira unload 423,986 shares at a sale price of $0.97. This brings their total holding to 772,196.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on India Globalization Capital, Inc. (NYSEMKT:IGC) as things move forward to see if its progress aligns with these transactions.
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