INDIA BUSINESS WORLD - 1^st FEBRUARY - TO - 15^th FEBRUARY - 2009

SINGAPORE BASED NALANDA INDIA CAPITAL BUYS MORE THAN SEVEN LAKH SHARES IN IT SERVICES FIRM MINDTREE

Nalanda India Capital, a Singapore based investment fund run by Pulak Prasad, has bought more than seven lakh shares in IT services firm MindTree from Walden International. The transaction, valued at Rs 15.6 crore, happened through the bulk deal route on the Bombay Stock Exchange. The deal translates to an almost 2% stake in the company. Data from the bourse shows Nalanda bought 7, 40,469 shares of MindTree at Rs 211.96 apiece. Of this, venture capital firm Walden International sold 7.35 lakh shares. The sellers of the remaining shares could not be determined immediately. Walden still has a 15.8% stake in MindTree, after the deal. While a MindTree official did not wish to comment, Nalanda Capital officials were not reachable. Nalanda Capital, which raised Rs 1,600 crore a couple of years back, has previously bought shares in Mastek Global, Carborundrum Universal, Triveni Engineering, Kirloskar Engines and Sun TV through this route.