Arvind Misra, the managing director for mining contractor India Resources (ASX:IRL), has increased his stake in the company with an on-market purchase of 300,000 shares for a consideration of $5,420, valuing each new share at $0.018.
Misra now holds 7,462,773 ordinary shares, valuing his stake in the company at around $134,000.
Misra also holds 2.5 million unlisted options with a 2012 expiry, with a further 6 million unlisted options with a 2017 expiry.
Last month India raised $592,500 through a private placement of 39.5 million shares at a subscription price of $0.015, which included two attached unlisted options for every five shares subscribed for.
The options are exercisable at $0.025 each on or before 31 December 2014.