Ashok Soota

Mindtree Stocks Gained After Sale

Mindtree Stocks Gained After SaleThe news of the partial sale of the stake of MindTree by its former Chairman, Ashok Soota pushed the stock of this Bangalore based IT company to 18% high on Thursday. The investors were concerned about this sale since he took the decision of quitting the company in March 2011.

After the sale of the 5.5% holding by Mr. Soota at a premium of 18.5% to the closing price of Rs. 361 per share, Mr. Soota is expected to sale his remaining stock in the coming few months.

Ashok Soota Sells Out 5.5% Stake of MindTree

Ashok Soota Sells Out 5.5% Stake of MindTreeAshok Soota, previous CMD of IT company MindTree, assured in an interview with CNBC-TV18 that he was going to sell off 5.5% of its stake to an information technology company but he did not reveal about the buyers of the stake and the amount at which the stakes were sold.

In a word to word interview with Ekta Batra and Reema Tendulkar, he was asked about the whereabouts of the buyers and emphasized on the aspect that the deal was made at a 20% of the premium quiet close to the end of the stock market the last day. Mr. Soota had sold 11% stake in the company through a block deal.




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