SMALLCAP World Fund Sells 5.9% Stake In Mastek

SMALLCAP World Fund Inc. has sold a 5.9% stake in Mastek Ltd., thereby reducing its holding in the company to 1.8%.

The transaction, which happened on Sept. 4, involved the sale of 17,74,666 shares. Prior to the sale, Mastek’s equity share capital was 30,074,811 shares. After the sale, this has increased to 30,851,891 shares. The total diluted share and voting capital of Mastek now stand at 30,851,891 shares. 

SMALLCAP World Fund is a global investor in small caps.

On Sept. 4, two shareholders of Mastek had sold stocks worth Rs 475.63 crore via a bulk deal on the BSE. Europacific Growth Fund sold 17.19 lakh shares, or 5.57% stake, at Rs 2,766.36 apiece, while Patronus Tradetech Llp. sold 217 shares at Rs 2,845.23 apiece. The company sold the shares at a 4.76% and 2.05% discount, respectively, compared to Tuesday’s close of Rs 2,904.70.

Mastek is a digital and cloud transformation specialist. Shares of the company closed 1.38% lower at Rs 2,690.90 per share, compared to a 0.34% advance in the NSE Nifty 50.