Major Shareholders Reshape TBO Tek's and Zen Technologies' Stake Structures

Augusta TBO and TBO Korea Holdings sold 5.9% of TBO Tek's shares for Rs 935 crore, reducing their stakes. Concurrently, ICICI Prudential MF, SBI MF, and Axis MF acquired a 2.6% stake. In Zen Technologies, promoters Kishore Dutt Atluri and Ashok Atluri offloaded 2.2% of shares for Rs 360 crore.

Singapore-based Augusta TBO and TBO Korea Holdings, significant investors in TBO Tek, have trimmed their portfolio by shedding 5.9% of their stake. The transaction, executed via open market deals, fetched nearly Rs 935 crore, as revealed in BSE's bulk deal data.

The companies discharged 40.74 lakh and 23.05 lakh shares, respectively, leading to a decrement in their holdings to 9.72% and 5.5% in this Gurugram-headquartered tech firm. Meanwhile, mutual funds, including ICICI Prudential, SBI, and Axis, acquired a 2.6% interest.

Parallely, Zen Technologies' promoters Kishore Dutt Atluri and Ashok Atluri divested 20 lakh shares, translating to a 2.2% reduction, pulling Rs 360 crore. As these developments unfolded, TBO Tek's shares dipped 3.27% while Zen Technologies saw a 5.70% drop.

(With inputs from agencies.)