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Home / Companies / News /  Apax Partners sells 11.41% stake in Zensar Technologies for 760 crore

Mumbai: Marina Holdco (FPI) Ltd, a company backed by funds advised by Apax Partners, on Monday sold 11.41% stake in RPG Group company Zensar Technologies for 760 crore through an open market transaction.

According to bulk deal data on NSE, Marina Holdco Ltd, sold 25.75 million shares or 11.41% of Zensar Technologies for 295.16 apiece aggregating to 760.04 crore.

On the other hand, Nippon India Mutual Fund bought 4.15 million shares for 122.40 crore, DSP Mutual Fund 6.76 million shares for 199.15 crore and Goldman Sachs India Fund Ltd 2.58 million shares for 75.98 crore.

As per the latest shareholding pattern, Marina Holdco (FPI) Ltd held 22.83% in the firm.

The stake was acquired from an existing minority shareholder Electra Partners Mauritius in January 2018. Following the investment, RPG Group continues to be the promoter and the largest shareholder in the company with a 49.19% stake.

For the last one year, Zensar Technologies gained 151.28% against a rise of 58.55% in the benchmark index, Nifty.

Zensar Technologies Ltd reported a rise of 27.1% in its consolidated net profit to 88.34 crore for the quarter ended 31 March 2021 against 69.51 crore for the same quarter last year. Net sales fell 13.9% to 876.29 crore during the March quarter over 1017.79 crore in the corresponding period of the previous fiscal.

Shares of Zensar Technologies lost 6.97% to close at 289.60, while the benchmark index, Nifty gained 0.08% to close at 15,811.85 points on Monday on NSE.

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