Latest News | Two Entities Sell 5.9 Pc Stake in TBO Tek for Nearly Rs 935 Crore

New Delhi, Dec 3 (PTI) Augusta TBO (Singapore) and TBO Korea Holdings, two public shareholders of TBO Tek, on Tuesday pared a total of 5.9 per cent stake in the company for nearly Rs 935 crore through open market transactions.

TBO Tek is a technology platform engaged in the business of providing services related to tours and travel.

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According to the bulk deal data available on the BSE, Augusta TBO (Singapore) sold 40.74 lakh shares, while TBO Korea Holdings offloaded 23.05 lakh shares, amounting to a 3.75 per cent and 2.12 per cent stake, respectively, in Gurugram-based TBO Tek.

The shares were disposed of in the price range of Rs 1,465.14-1,465 apiece, taking the aggregate deal value to Rs 934.73 crore.

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After the stake sale, Augusta TBO's holding in TBO Tek has come down to 9.72 per cent from 13.47 per cent, while TBO Korea Holdings' stakeholding in the company has declined to 5.5 per cent.

ICICI Prudential Mutual Fund (MF), SBI MF and Axis MF acquired a total of 27.90 lakhs shares or 2.6 per cent stake in TBO Tek, as per the data on the BSE.

The shares were picked up at an average price of Rs 1,465 apiece, taking the combined transaction value to Rs 408.80 crore.

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

On Tuesday, shares of TBO Tek fell 3.27 per cent to close at Rs 1,531.05 apiece on the BSE.

In a separate bulk deal on the BSE, Kishore Dutt Atluri and Ashok Atluri, promoters of Zen Technologies, offloaded 20 lakh shares or 2.2 per cent holding in the company for Rs 360 crore through two separate transactions.

The shares were sold in the price range of Rs 1,801.16-1,800.01 apiece, taking the deal size to Rs 360.12 crore.

After the latest transaction, the combined stakeholding of promoter and promoter group of Zen Technologies has reduced to 49.06 per cent from 51.26 per cent.

Meanwhile, Motilal Oswal Mutual Fund purchased 11,11,111 shares or 1.23 per cent stake in Hyderabad-based company.

The shares were bought at an average price of Rs 1,800 per piece, taking the deal value to Rs 200 crore.

Details of the other buyers of shares could not be identified.

Shares of Zen Technologies plunged 5.70 per cent to settle at Rs 1,803.25 apiece on the BSE.

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