Business Standard

MindTree rises on stake hike by Coffee Day promoter

V G Siddhartha has acquired 1.56 million shares or 3.84% stake at an average market price of Rs 610 per share

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SI Reporter Mumbai

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.

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First Published: Jun 19 2012 | 11:46 AM IST

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