MindTree Limited is trading higher by 3% at Rs 624 after V G Siddhartha, Coffee Day Group’s chairman acquired additional 3.84% stake in the company for around Rs 95 crore from Walden International.
“V G Siddhartha has acquired 1.56 million shares representing 3.84% stake in the company at an average market price of Rs 610 per share via bulk deal on the Bombay Stock Exchange on Monday,” MindTree said in a filing.
With this, V G Siddhartha — along with two of his companies Coffee Day Resorts and Global Technology Ventures — holds 21.57% stake in the mid-tier software exports firm. The promoter and promoter group holds 20.19% stake in the company as on March 2012.
The stock opened at Rs 618 and hit a high of Rs 626 on the National Stock Exchange. A combined 61,383 shares have changed hands on the counter so far on both the exchanges.