Foreign fund house CLSA (Mauritius) has lowered its stake in Maytas Infrastructure to 3.52 per cent by selling shares worth Rs 14.31 crore in open market deals.
CLSA sold 8.54 lakh shares, representing 1.45 per cent stake in Maytas, for about Rs 14.31 crore on January 4, the company, which was founded by the kins of B Ramalinga Raju, said in a disclosure to the Bombay Stock Exchange.
Post sell off, CLSA holds a 3.52 per cent stake in the company, down from the earlier nearly five per cent stake.
Last year, Infrastructure Leasing & Financial Services (IL&FS) took over Maytas Infra. IL&FS owns a 37 per cent stake in Maytas Infra.
Disclosure of accounting fraud by Raju had its impact on Maytas Infra also and the company lost many contracts and slipped into dire straits.