Orbitech sells Intellect Design Arena shares for Rs 130 crore

Reliance Capital picks up 60 lakh shares for Rs 43 crore

Citigroup's Orbitech Ltd has sold its entire shares in Intellect Design Arena, the demerged banking, financial services and institutions (BFSI) focused product firm from Polaris, through two bulk deals in National Stock Exchange on Monday and Tuesday. Orbitech has sold a total of 1,74,58,692 equity shares, which is around 17 per cent of the total shares in the company, for a total of around Rs 129.8 crore, according to the NSE data.

On Tuesday, Orbitech sold around 1,12,60,180 equity shares in Intellect Design Arena for a trade price of Rs 72.29 per share, while on Monday it has sold 61,98,512 equity shares in the company for a trade price of Rs 78.02 per share, which aggregates to Rs 48.4 crore worth of shares.

 

Meanwhile, Reliance Capital picked up around 60,00,000 equity shares in the company through deals to total an amount of around Rs 43 crore. At the same time, Franklin Mutual Series Funds has sold 53,53,733 equity shares in the company for Rs 74.63 per share, aggregating to Rs 39.95 crore.

Polaris Banyan Holding Pvt Ltd has acwuied Rs 9.2 crore worth shares on Tuesday. On Monday, the promoter of Polaris, Arun Jain and Manju Jain has acquired Rs 9.4 crore and Rs 4.8 crore worth of shares through bulk deal, respectively.