Mindtree co-founder, family sell 466,000 shares; holding down at 2.01%

Krishnakumar Natarajan, co-founder and executive chairman of Mindtree

Mindtree co-founder Krishnakumar Natarajan and his family have sold over 466,000 shares of the company, reducing their combined shareholding to 2.01 per cent.

The transactions were carried out by Krishnakumar N, wife Akila Krishnakumar and son Siddarth in multiple tranches between September 15-23, Mindtree said in a regulatory filing on Saturday.

This reduced their combined shareholding from 2.29 per cent to 2.01 per cent, it added.

Earlier this month, another regulatory filing had stated that Natarajan and his family had sold over 4.2 million shares of the company in multiple tranches between April 30 and September 14 that had reduced their combined shareholding to 2.29 per cent.

Krishnakumar Natarajan, who held 1.96 per cent share, sold about 285,000 shares, the filing said on Saturday.

Post the transaction, his shareholding reduced to about 1.79 per cent. Akila sold about 132,000 shares between September 15-21, bringing down her holding from 0.19 per cent to 0.11 per cent.

Siddarth Krishna Kumar sold 49,405 shares and bought 1,000 shares, bringing his latest shareholding to 0.10 per cent.

The shares were sold and purchased in the open market, the filing said.

Larsen and Toubro, which acquired majority share in Mindtree last year, had 61.08 per cent shareholding at the end of June 2020 quarter.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel