Capital Group Divests Stake in Mastek; ICICI Prudential Steps In
Capital Group sold a 5.6% stake in Mastek for over Rs 475 crore in an open market sale. ICICI Prudential Mutual Fund and other entities purchased shares worth Rs 340.40 crore. Mastek's shares fell by 4.67%. The company also recently partnered with Onyx Health for healthcare data interoperability.
- Country:
- India
Financial services giant Capital Group offloaded its 5.6% stake in IT services firm Mastek for over Rs 475 crore through open market transactions on Wednesday. ICICI Prudential Mutual Fund emerged as a key buyer.
Capital Group's EuroPacific Growth Fund sold 17,19,117 shares at an average price of Rs 2,766.36 each, according to BSE data. Collectively, the transaction was valued at Rs 475.57 crore.
In a related move, ICICI Prudential Mutual Fund, along with Ghisallo Master Fund LP and Patronus Tradetech LLP, acquired 12.34 lakh shares at prices ranging from Rs 2,751 to Rs 2,767.51 each, amassing a total value of Rs 340.40 crore. Following these transactions, Mastek's shares saw a 4.67% decline to Rs 2,769.70 apiece on the BSE.
The developments follow Mastek's recent strategic partnership with Onyx Health to advance healthcare data interoperability.
(With inputs from agencies.)
Google News