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Our Bureau

Bangalore , Sept. 2

PRIVATE corporate body Winter Fall Ltd (part of the Chrysalis Group) has exited MphasiS BFL Ltd by offloading its six per cent stake on August 31.

Winter Fall sold its 47.43-lakh shares in the open market, thus making a complete exit from the software services provider.

At the same time, Fidelity International, through its direct and indirect subsidiaries, has increased its stake in MphasiS by acquiring over 47.37-lakh shares aggregating to around 6.22 per cent of the company's paid-up capital from the open market.

With this, Fidelity's stake in MphasiS has gone up to 8.43 per cent of the paid-up capital.

A few of the senior MphasiS officials, including former and current Chief Financial Officers have, encashed their options over the last few days. Mr Alok Mishra, Group CFO, MphasiS, has sold some 10,000 shares through open market transactions, while Mr Bhaskar Menon, President, MphasiS BPO, has sold close to 40,000 shares through open market and close to 26,000 shares through MphasiS Holdings Ltd, Mauritius.

Former CFO Mr Ravi Ramu has also sold his 86,200 shares through open market transactions in three different tranches over the last couple of weeks.

The fact is that these transactions in the MphasiS stock have happened after the largest shareholder in the company, Barings India Investments Ltd, made an unsuccessful attempt to sell its holding of 35.6 per cent in the last few months. Barings, which announced its plans to sell its MphasiS stake in May last , called off its decision a few days ago over pricing issues.

Meanwhile, the MphasiS BFL is considering a proposal for share buyback. The board of directors is meeting on September 10 to consider the buy-back proposal. Highly placed sources said the company was in a silent period and that the board would be considering an enabling resolution for the buy-back proposal.

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