HCL Corp sells HCL Tech shares worth Rs 390 cr to another promoter entity

HCL Corporation, a promoter of HCL Technologies, on Monday offloaded 45.85 lakh shares of the company for over Rs 390 crore to another promoter entity through an open market transaction.

According to block deal data available on the BSE, HCL Corporation sold a total of 45,85,000 shares of HCL Technologies at an average price of Rs 852 per share.

The shares were bought by Vama Sundari Investments (Delhi) Pvt Ltd, another promoter entity of the company, at the same price, the data showed.

This translates into a deal value of Rs 390.64 crore.

As per the shareholding pattern for the September 2020 quarter, HCL Corporation and Vama Sundari Investments held 0.34 per cent and 43.22 per cent stake, respectively, in HCL Technologies.

Shares of HCL Technologies on Monday settled 0.59 per cent higher at Rs 855.65 on the BSE.