MindTree hikes stake in Aztecsoft to 26.19%
Posted by akpwld on May 7, 2008
IT company MindTree Consulting on Wednesday said it has further increased it stake in software engineering services firm Aztecsoft to 26.19 per cent through open market transactions at an estimated Rs 11.64 crore.
The company acquired 15 lakh shares representing 2.63 per cent in Aztecsoft, it said in a disclosure to the Bombay Stock Exchange.
Calculated on the basis of Wednesday’s closing price of Rs 77.65 per share of Aztecsoft, the value of the shares acquired is worth about Rs 11.64 crore.
Prior to the buyout, MindTree’s stake in the firm stood at 23.56 per cent. on Tuesday, the firm had bought shares representing 14.67 per cent stake in Aztecsoft for about Rs 51 crore through market transactions.
Earlier this week, the IT firm had said that it would buy 32.57 per cent stake in Aztecsoft at Rs 80 per share, which values the company at $90 million.
Shares of MindTree closed at Rs 481.25, up 1.85 per cent on the BSE.
