Saif III Mauritius offloads 4.37% stake in MindTree

SAIF III Mauritius Company has offloaded its holding in Bangalore-based software and R&D services firm MindTree to 0.6 per cent from 4.97 per cent, by selling close to 1.66 million shares for around Rs 97 crore in a bulk deal on the National Stock Exchange.

At the end of March 31, 2009 Saif III Mauritius owned 1.88 million shares of MindTree.

Meanwhile, Nomura Fund Ireland Public and TNTC as the trustee of Nomura India Stock Mother Fund bought 200,000 and 650,000 shares respectively at Rs 583 in MindTree. Reliance Mutual Fund bought 700,000 shares.

In a similar trend, private equity fund Capital International, a global asset management player, earlier this month sold 9 per cent stake in IT firm.

As of March 31, 2009 some of the other prominent shareholders in MindTree are Walden Software (15.77 per cent), Global Technology Ventures (6.97 per cent), Nalanda India Fund (2.53 per cent) LIC (1.03 per cent).