You are here: Home » Markets » News
Business Standard

Jhunjhunwala and his wife sell stake in Design Arena for Rs 53.08 cr

Intellect Design Arena is a Chennai-based IT firm

Press Trust of India  |  New Delhi 

Jhunjhunwala and his wife sell stake in Design Arena for Rs 53.08 cr

Ace investor and his wife Rekha have sold their entire 4.20 per cent shareholding in IT firm Intellect for an estimated Rs 53.08 crore. In a filing to the BSE, Jhunjhunwala said, "On February 14, I along with persons acting in my concert (Rekha Jhunjhunwala) have sold 42.50 lakh shares (4.20 per cent) of Intellect Design Arena". "This takes our total shareholding in Intellect to nil ," he added. Based on the stock's weighted average price of Rs 124.91 on February 14, the value is estimated at Rs 53.08 crore. Intellect is a Chennai-based company. Shares of the company were trading 1.93 per cent higher at Rs 113.45 on the

First Published: Thu, February 16 2017. 11:57 IST
RECOMMENDED FOR YOU