Shiv Nadar Foundation, the philanthropic initiative of Shiv Nadar, has sold 56 lakh shares worth over Rs 1,150 crore in HCL Technologies, its entire stake in the company, in open market to comply with regulations.
The foundation held this 0.79% share of the company by donations from HCL Corporation and Associates. The last sale of shares in HCL Technologies by the foundation was in February 2012.
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL leverages its extensive global offshore infrastructure and network of offices in 31countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare & Life sciences.