CCD's Siddhartha raises stake in MindTree to 21.78%

Purchases an additional 0.23% stake for Rs 5.76 cr through an open market transaction

Cafe Coffee Day promoter V G Siddhartha today hiked his holding in IT services company MindTree to 21.78% by purchasing an additional 0.23% stake for Rs 5.76 crore through an open market transaction.

Along with 3.84% held in personal capacity, Siddhartha through his group companies, Cafe Coffee Day Resort (11.22%) and Global Technology Venture (6.50%) already held 21.55% in the Bangalore-based IT firm.

Today he bought 93,000 shares at an average price of Rs 620 apiece, as per the BSE filing.

With today's acquistion, Siddhartha now holds 4.07% stake in his personal capacity in MindTree, according to a BSE disclosure.

This brings his total holding, including the two group entities, to 21.78% in MindTree.

In a similar deal, yesterday Siddhartha purchased 3.84% stake in the IT firm for Rs 95.4 crore.    

He is currently a Non-Executive Director and Member - Audit & Strategic Initiatives Committee at MindTree.

In 1992, Siddartha founded Amalgamated Bean Coffee Trading Company and started coffee retail business in 1995 under the brand name of Cafe Coffee Day (CCD).

Siddhartha, who started his career in the stock market working with JM Financials in its research division in 1983-1984, has been investing in technology companies since 1995 and has invested in more than 15 technology companies.    

Shares of MindTree today closed 1.69% up Rs 615.15 on the BSE.