Netweb Tech: Citigroup, Societe Generale Among Buyers After Promoters Pare Stake
Four promoters offloaded the same amount of shares at the same price.
Citigroup, ICICI Prudential Mutual Fund, and Societe Generale were among the firms that acquired stake in Netweb Technologies India Ltd. for Rs 458 crore through open market transactions on Friday.
ICICI Prudential Mutual Fund bought 10.75 lakh shares (1.9%), Citigroup Global Markets Mauritius mopped up 4.48 lakh shares (0.79%), and Societe Generale purchased 2.73 lakh shares (0.48%), among others, at Rs 2,232.1 apiece, according to NSE block deal data.
Discovery Global Opportunity Mauritius, Invesco Mutual Fund, and Union Mutual Fund were also among the buyers.
Meanwhile, four promoters—Navin Lodha, Sanjay Lodha, Niraj Lodha and Vivek Lodha—offloaded the same amount of shares at the same price.
After the share sale by these promoters, the combined shareholding of promoters and promoter group entities in Netweb Technologies India will decline to 71.4% from 75.04%.
Shares of the company settled 4.07% higher at Rs 2,347.8 apiece, as compared to a 1.08% decline in the benchmark BSE Sensex.
