Mphasis Promoter Pares Stake Worth Rs 6,735 Crore

Mphasis Ltd. promoter, BCP TOPCO IX Pte., offloaded 15.08% stake in the company for Rs 6,735 crore, through open market transactions on Monday.

The promoter sold 2.85 crore shares, according to bulk deal data on the NSE. As of March, BCP TOPCO IX held 55.45% stake in the company.

Kotak Mahindra Mutual Fund A/C-Kotak Emerging Equity Scheme acquired 1.68% stake for Rs 750 crore. Morgan Stanley Asia Singapore Pte purchased 22.25 lakh shares, which is 1.18% share, at Rs 525 crore. Kotak Funds-India Midcap Fund bought 0.83% share for Rs 371 crore, and Societe Generale obtained 0.56% stake for Rs 250 crore.

Shares of Mphasis closed 3.15% lower at Rs 2,394.45 apiece on Monday, as compared with a 0.13% drop in the benchmark NSE Nifty.