Zensar Technologies gains on stake buy by Apax Partners

The stock was up 4% at Rs 874 on the BSE.

Zensar Technologies is trading higher by nearly 4% at Rs 874 on the BSE after the software and infrastructure services provider announced that the private equity group Apax Partners acquired a 23.2% stake in the company from Electra Partners Mauritius, an existing minority shareholder.

RPG Group continues to be the promoter and the largest shareholder in the company with a 48% stake, Zensar Technologies said in a press release.

Electra Partners Mauritius sold its stake though off market sale on October 9, 2015 for total consideration of Rs 860 crore based on Friday’s closing price of Rs 841 on the BSE.

The stock hit a high of Rs 880 on the BSE. A combined 108,800 shares changed hands on the counter on the BSE and NSE till 10:16 am.