Capital Group's Strategic Divestment in Mastek

Capital Group divested a 1.7% stake in IT firm Mastek for over Rs 148 crore on Tuesday. The move reduced Capital Group's holding in Mastek from 7.94% to 6.24%. Following the sale, Mastek’s share prices increased by 4.65% on the BSE, closing at Rs 2,904.25.

On Tuesday, financial services company Capital Group made headlines by divesting a 1.7% stake in the IT firm Mastek. The transaction was executed through Capital Group's subsidiary, SmallCap World Fund Inc, which offloaded 5.30 lakh shares for over Rs 148 crore in an open market trade.

With this sale, Capital Group's shares in Mastek dropped from 7.94% to 6.24%. The shares fetched an average price of Rs 2,801.68 each, bringing the total value of the transaction to Rs 148.49 crore. Aalidhra Textool Engineers also bought a significant portion, acquiring 2 lakh shares at Rs 2,800.81 each, amounting to Rs 56.01 crore.

The impact of these transactions was reflected in Mastek's share price, which rose by 4.65% to close at Rs 2,904.25 on the BSE. While Aalidhra Textool Engineers were identified as major buyers, details of other buyers remain undisclosed.

(With inputs from agencies.)