Mindtree co-founder, family sell 466,000 shares; holding down at 2.01%

Mindtree co-founder Krishnakumar Natarajan and his family have sold over 466,000 shares of the company, reducing their combined shareholding to 2.01 per cent.

The transactions were carried out by Krishnakumar N, wife Akila Krishnakumar and son Siddarth in multiple tranches between September 15-23, Mindtree said in a regulatory filing on Saturday.

This reduced their combined shareholding from 2.29 per cent to 2.01 per cent, it added.

Earlier this month, another regulatory filing had stated that Natarajan and his family had sold over 4.2 million shares of the company in multiple tranches between April 30 and September 14 that had reduced their combined shareholding to 2.29 per cent.

Krishnakumar Natarajan, who held 1.96 per cent share, sold about 285,000 shares, the filing said on Saturday.

Post the transaction, his shareholding reduced to about 1.79 per cent. Akila sold about 132,000 shares between September 15-21, bringing down her holding from 0.19 per cent to 0.11 per cent.

Siddarth Krishna Kumar sold 49,405 shares and bought 1,000 shares, bringing his latest shareholding to 0.10 per cent.

The shares were sold and purchased in the open market, the filing said.

Larsen and Toubro, which acquired majority share in Mindtree last year, had 61.08 per cent shareholding at the end of June 2020 quarter.