Investa Capital Management picks 0.62% stake in Tech Mahindra for Rs 81.46 crore

Investa Capital Management LLC has bought 796,819 shares amounting to 0.62% stake of software services provider Tech Mahindra. The foreign fund has purchased the shares at an average price of Rs 1,022.41 through open market transaction valuing the deal at Rs 81.46 crore.

As of June quarter, the promoters of the company held 70.78% stake, while state-run Life Insurance Corporation of India’s (LIC) holding in the software firm stood at 14.13% during the same period.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra.