Mphasis shares worth Rs 7,000 cr traded in open market
A combined of 3.35 crore equity shares, at an average price of Rs 2,379.75 apiece changed hands on the NSE with the total deal value of over Rs7,000 cr
image for illustrative purpose
New Delhi: About 3.35 crore shares of Mphasis were sold through open market transactions on the NSE as part of a large block deal of over Rs 7,000 crore on Monday. Shares of the information technology firm slumped 4.82 per cent to Rs 2,352.60 in the intra-day trade before recovering some ground to settle at Rs 2,398, about 3 per cent lower than its previous close.
Though buyers and sellers of the shares could not be ascertained, earlier reports had suggested that BCP Topco -- an affiliate of US-based investment firm BlackStone -- could be the seller. Further, Blackstone -- promoter entity of IT and consulting company Mphasis Ltd -- sold a 10.6 per cent stake through block deals. As per reports, the share sale would trigger a 180-day lock-in period before Blackstone-backed BCP Tapco could execute another block deal.
