Stocks

MindTree board approves promoter’s request for de-classification

R. Y. Narayanan Coimbatore | Updated on March 12, 2018

The board of directors of MindTree Ltd has approved Kalyan Kumar Banerjee’s request for de-classification as a promoter with immediate effect.

The company, while disclosing the decision in a statement, did not explain the reason for the request made by one of its promoters.

According to MindTree’s shareholding data, Kalyan Kumar Banerjee had about 3.43 lakh shares in the company constituting 0.83 per cent of the equity capital as at the end of March 31, 2013.

In fact, the promoters’ holding in the company was only 18.82 per cent as on March 31, 2013. While FIIs held 30.74 per cent, DIIs held 7.50 per cent and others held 42.94 per cent stake.

The shares of MindTree Ltd were trading at Rs 849.90, down by Rs 17.60 on the BSE about 20 minutes after the trading began today.

The stock has shed considerable value after touching a 52-week high of Rs 924.95 on April 3 in the exchange.

Published on April 22, 2013

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