HCL Tech promoter sells 63 lakh shares for Rs. 895 crore

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Vama Sundari Investments (Delhi), a company linked to HCL Tech promoter Shiv Nadar on Tuesday sold 63 lakh shares in the company through a block deal on the National Stock Exchange.

The share sale, comprising a 0.9 per cent stake in HCL Tech, was valued at Rs. 894.60 crore, the company said in a statement on the exchanges.

Post the block deal, Vama Sundari’s total stake in HCL Tech came down to 42.90 per cent from 43.80 per cent earlier.

Shares in HCL Tech closed 1.25 per cent lower at Rs. 1,396.75 on the BSE underperforming the broader IT benchmark, which ended 0.8 per cent lower.

Last month, a Wall Street Journal report said HCL Tech’s billionaire founder was seeking potential buyers for his $10 billion stake in the company. Mr Nadar owns a roughly 62 per cent stake in HCL Technologies, India’s No. 4 IT services exporter, through group companies.
HCL Tech had denied the reports.