Markets | Patni Computer family sell Rs40cr of shares

Markets | Patni Computer family sell Rs40cr of shares

Mumbai: Promoters Gajendra Kumar Patni and Ashok Kumar Patni have between then sold a 0.64% stake worth Rs40 crore in information technology firm Patni Computer Systems Ltd, the company informed the Bombay Stock Exchange on Thursday. The sell-off follows rumors in the past few weeks of a possible stake sale by the promoters.

While Ashok Patni sold 400,000 shares in two transactions on 16 November and 17 November for Rs20 crore, G.K. Patni’s family sold shares held by his sons Arihant Patni, Amit Kumar Patni, grand daughters Ayushi Amitkumar Patni and Aakruti Amitkumar Patni in multiple transactions together worth Rs20 crore.

There was no sale by either of the other two Patni brothers, Narendra Kumar, who is the chairman, or Narendra Patni.

Together the Indian promoters hold about 45% stake in the company.