In an interview with CNBC-TV18, Ashok Soota, former CMD of MindTree confirmed the news of his 5.5% stake sale in the information technology company. While Soota didn't specify the buyers and price of the deal, he said that the sale took place at a decent premium to yesterday's closing.
"I am not in any hurry to divest the remaining 5.5% stake," he sated, adding that he will soon announce a new venture. Soota sold half of his 11% stake in the information technology company. Below is the verbatim transcript of his interview with Ekta Batra and Reema Tendulkar. Also watch the accompanying video. Q: Have you sold this 5.5% stake and who exactly were the buyers of?
A: I am happy to confirm that I have sold the stake. I have done a trade in the markets. So, I am quite transparent to who the buyers would be. I have heard other people making speculative statements. I have just done a market trade. Q: The reason we ask is because this trade has been done at close to about 20% premium to where the stock closed yesterday. So did you have any negotiation with any of the investors because when we spoke to the CFO of MindTree earlier, he indicated one of the names as Global Technology? Did you have any dialogue with him?
A: Probably, you know better than I do. I absolutely have no idea of who is the actual buyer. Q: There was no kind of negotiation done prior to this deal?
A: I have obviously been in dialogue with multiple parties, and then in the end finally moved in the market. Q: It
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