MindTree Chairman Subroto Bagchi has gifted one third of his holdings in the company to his wife Susmita Bagchi.
The company scrip closed at Rs 1,530.65 on the BSE, valuing the gift at about Rs 106.2 crore.
In a statement to the stock exchanges, the Chairman of the Bangalore-based company said that this is a purely personal arrangement for estate planning and does not change his professional capacity as the chairman of the company in any way. The promoters hold a 16.6 per cent stake in the company, according to data. Further, this transfer does not cause any change in the shareholding pattern with regard to the category of promoter and promoter group, Bagchi added.
V.G. Siddhartha, along with two group companies, Coffee Day Resorts and Global Technology Ventures is the largest investor in MindTree and as on June 30, Siddhartha and his group companies held 21 per cent stake in the company.
In September, FID Fund Mauritius, a foreign investor bought 2,95,129 equity shares of MindTree at Rs 1,074.99 a share through a block deal, according to BSE data.