Investa Capital Management today acquired around 8 lakh shares of software services provider Tech Mahindra for over Rs 81 crore through open market transaction.
According to bulk data available with the stock exchanges, Investa Capital Management bought 7,96,819 shares (amounting to 0.62 percent stake) of the software firm. The shares were purchased on average price of Rs 1,022.41 valuing the deal at Rs 81.46 crore.
However, the seller of the shares could not be ascertained. As of June quarter, promoters held 70.78 percent stake in Tech Mahindra, while state-run Life Insurance Corporation of India (LIC) holding in the software firm stood at 14.13 percent during the period.
Shares of Tech Mahindra rose by around five percent to settle at Rs 1,019.60 apiece on the BSE.