Latest News | Ashok Soota Offloads 1.11 Pc Stake in Happiest Minds Tech

New Delhi, Sep 28 (PTI) Veteran entrepreneur and Happiest Minds Technologies Executive Chairman Ashok Soota has sold 1.11 per cent stake in the IT company, the company said in a statement on Thursday.

Soota has offloaded about 17 lakh equity shares of the technology company through the NSE/BSE, which brings down his holding in the company from 51.24 per cent to 50.13 per cent, the statement said.

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At Thursday's closing price of Rs 872.65 apiece, the value of 17 lakh shares is estimated to be over Rs 148 crore. Shares of Happiest Minds fell 4.17 per cent to 872.65 on the BSE.

"This transaction was primarily done to fund the capital requirements of SKAN, the not-for-profit medical research firm floated by him and enhance the share capital of Happiest Health," Soota said.

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Soota plans to maintain his shareholding in Happiest Minds to not less than 40 per cent, the statement added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)