IDBI Bank trims stake in 3i Infotech

IDBI Bank offloaded 3,31,66,556 equity shares, or 2.05% stake, of 3i Infotech via open market sale on BSE and NSE between 7 January 2017 to 13 April 2021.

Post transaction, IDBI Bank's shareholding in 3i Infotech has reduced to 6.94% from 8.99% held earlier.

3i Infotech's consolidated net profit dropped 19.6% to Rs 21.87 crore on a 4.9% decline in net sales to Rs 273.31 crore in Q3 December 2020 over Q3 December 2019.

3i Infotech is a global information technology company providing IP based software solutions and a wide range of IT services across various sectors including banking, insurance, capital markets, asset & wealth management manufacturing, retail, distribution, telecom and healthcare.

 

Shares of 3i Infotech were up 1.13% to Rs 7.15 on BSE. The scrip hovered in the range of Rs 6.94 to Rs 7.21 so far.

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