Latest News | Citigroup Global, Societe Generale, 4 Others Buy Stake in Netweb Tech for Rs 458 Cr

New Delhi, Aug 2 (PTI) Six entities, including Citigroup Global Markets Mauritius, ICICI Prudential MF and Societe Generale, on Friday acquired stakes in Netweb Technologies India for Rs 458 crore through open market transactions.

As per the data available on NSE, Citigroup Global Markets Mauritius, Discovery Global Opportunity Mauritius, ICICI Prudential Mutual Fund, Invesco MF, Societe Generale and Union MF bought a total of 20,54,795 shares or 3.64 per cent stake in Netweb Technologies India.

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Shares were picked up at an average price of Rs 2,232.10 apiece, taking the combined deal value to Rs 458.65 crore.

Meanwhile, four promoters -- Navin Lodha, Sanjay Lodha, Niraj Lodha and Vivek Lodha -- offloaded the same amount of shares at the same price on the National Stock Exchange (NSE).

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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 per cent from 75.04 per cent.

Shares of Netweb Technologies India settled 4.22 per cent higher at Rs 2,349.80 apiece on the NSE.

(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)