Fidelity Investments Offloads Rs 1,788 Crore Stake in HCL Technologies

Fidelity Investments sold shares worth Rs 1,788 crore in HCL Technologies through eight affiliates. The shares, sold via block deals on the NSE, amounted to 1.24 crore shares at an average price of Rs 1,440.50. ICICI Prudential MF, Kotak Mahindra MF, and other buyers participated in the acquisition.

On Friday, Fidelity Investments executed a significant share sale worth Rs 1,788 crore involving HCL Technologies through open market transactions.

In multiple block deals executed on the National Stock Exchange (NSE), the US-based investment firm, through its eight affiliates, parted ways with 1,24,14,228 shares or a 0.46 percent stake in the leading IT company.

Selling at an average price of Rs 1,440.50 per share, the transaction saw ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, and several others as notable buyers.