Capital group sells 1.7% stake worth Rs 148 crore

Financial services company Capital Group on Tuesday divested a 1.7 per cent stake in IT firm Mastek for over Rs 148 crore through an open market transaction.

According to the bulk deal data available on the BSE, US-based Capital group through its arm SmallCap World Fund Inc offloaded 5.30 lakh shares, amounting to a 1.7 per cent stake in Mastek.

The shares were sold at an average price of Rs 2,801.68 apiece, taking the deal value to Rs 148.49 crore.

After the share sale, Capital group's holding in Mastek has come down to 6.24 per cent from 7.94 per cent.

Meanwhile, Aalidhra Textool Engineers bought 2 lakh shares of the company at an average price of Rs 2,800.81 per piece. This took the deal value to Rs 56.01 crore.

Details of the other buyers of Mastek's shares could not be ascertained.

Shares of Mastek rose 4.65 per cent to close at Rs 2,904.25 apiece on the BSE.