Mindtree co-founder Krishnakumar Natarajan, family sell 0.2% stake in company for Rs 42 crore

By: |
September 26, 2020 4:35 PM

In recent multiple transactions, Krishnakumar Natarajan sold about 2.85 lakh shares. His shareholding now stands at 1.79 per cent.

Mindtree share, mindtree share priceMindtree believes that the third quarter would witness similar growth despite being a seasonally weak quarter

Mindtree co-founder Krishnakumar Natarajan on Saturday announced that he and his family have sold a small portion of their equity shareholding in the company during September 15-23 in multiple tranches. Krishnakumar Natarajan, wife Akila Krishnakumar and son Siddarth Krishnakumar sold 4.66 lakh shares of the company, reducing the combined shareholding to 2.01 per cent from 2.29 per cent earlier. This represented approximately 0.2 per cent of the paid-up equity share capital valued at about Rs 41.77 crore, calculated according to the company’s market capitalisation. Earlier this month, Krishnakumar Natarajan and his family sold over 42 lakh shares of the company in the transactions held between July 28 and September 14, downsizing their shareholding to 2.29 per cent.

During September 15-23 transactions, Krishnakumar Natarajan sold about 2.85 lakh shares. His shareholding now stands at 1.79 per cent. Similarly, Krishnakumar Natarajan’s wife Akila sold about 1.32 lakh shares, reducing her holding from 0.19 per cent to 0.11 per cent. Son Siddarth Krishnakumar sold 49,405 shares and bought 1,000 shares, bringing his shareholding to 0.10 per cent. According to the regulatory filing, the shares were sold and purchased in the open market. Larsen and Toubro, which acquired majority share in Mindtree last year, had 61.08 per cent shareholding or 10.05 crore shares at the end of June 2020 quarter.

Between July 28 and September 14, Krishnakumar Natarajan sold 28.47 lakh shares and acquired 15,000 shares, taking his total shareholding to 1.96 per cent. At the end of June 2020 quarter, Natarajan Krishnakumar held 3.68 per cent stake in the IT company, Akila Krishnakumar owned 10.54 lakh shares or 0.64 per cent equity stake. While Siddarth Krishnakumar and Abhirath Krishnakumar owned 0.30 per cent stake or 4.95 lakh shares and 0.15 per cent or 2.5 lakh fully paid-up equity shares, respectively, at the end of the quarter ended June 30

At Friday’s close, the total market capitalisation of Mindtree stood at Rs 20,887 crore. Mindtree shares closed 1.59 per cent higher at Rs 1,268.40 apiece on BSE.

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