V G Siddhartha likely to offload Mindtree stake through bulk deals

Siddhartha, who first invested in Mindtree in 1999, holds 21% in the IT services firm through his various entities

With founders of Mindtree not willing to sell their stakes, the firm's single largest investor, V G Siddhartha, is likely to offload his stake in the stock exchanges through bulk deals.

According to sources in the know, these shares could be sold to private equity players at a discount. Currently, PE firms such as KKR, Advent, Apax and Carlyle are evaluating the option of buying out the stake of Siddhartha, who is also Café Coffee Day's founder.

Though feelers have been sent to founders who hold around 13 per cent stake in Mindtree, sources said they are unwilling to sell out as