IDBI Trusteeship Services sells 3.64 lakh Geometric shares

IDBI Trusteeship Services today offloaded 3.64 lakh shares of Geometric for over Rs four crore, amid reports of a private equity player eyeing Godrej group's stake in the software service provider.
According to information available with the bourses, IDBI Trusteeship Services sold 3,64,690 shares of Geometric through the open market route.
The shares were offloaded at an average price of Rs 119.65, valuing the transaction at Rs 4.36 crore.
However, the identity of buyer(s) of the shares could not be ascertained immediately.
As per media reports, Apax Partners, a private equity player, is eyeing Godrej's stake in Geometric.
If Godrej sells its majority stake, it is likely to trigger an open offer, the reports said.

IDBI Trusteeship Services held 26.88 lakh shares, amounting to 4.24 per cent stake of Geometric.
Shares of Geometric surged 4.95 per cent to close at Rs 119.75 apiece on the BSE.