NewsCorporate ActionsSagility B.V. Reduces Stake in Sagility Limited Through Significant Open Market SaleSagility B.V. Reduces Stake in Sagility Limited Through Significant Open Market Sale
Sagility B.V., the promoter of Sagility Limited, has sold 769 million equity shares, reducing its stake from 67.38% to 50.95%. The open market transaction, settled on November 17, represents a 16.43% reduction in shareholding. Sagility B.V. now holds 2,385,129,152 shares out of the total 4,681,328,413 equity shares of Sagility Limited.
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Sagility B.V., the promoter of Sagility Limited, has significantly reduced its stake in the company through a substantial open market sale. The transaction, which settled on November 17, marks a notable shift in the company's ownership structure.
Details of the Transaction
Sagility B.V. sold 769 million equity shares, representing a 16.43% stake in Sagility Limited. This large-scale divestment has led to a considerable reduction in the promoter's shareholding in the company.
Impact on Shareholding
The sale has resulted in a significant change in Sagility B.V.'s ownership position:
| Aspect | Before Sale | After Sale | Change |
|---|---|---|---|
| Shareholding (%) | 67.38 | 50.95 | -16.43 |
| Number of Shares | 3,154,129,152 | 2,385,129,152 | -769,000,000 |
Transaction Details
- Mode of Sale: Open market
- Settlement Date: November 17
- Total Equity Shares of Sagility Limited: 4,681,328,413 (Face value of ₹10/- per equity share)
- Total Equity Share Capital: ₹46,792,743,610
Implications
This substantial reduction in promoter holding may have various implications for Sagility Limited:
Increased Public Float: The sale could lead to an increase in the public float of the company's shares, potentially enhancing liquidity in the stock.
Ownership Dynamics: While Sagility B.V. remains a significant shareholder, the reduced stake might affect the promoter's influence on company decisions.
Market Perception: Investors and market analysts may closely watch this development to understand its potential impact on the company's future direction and governance.
Despite this significant sale, Sagility B.V. continues to hold a substantial 50.95% stake in Sagility Limited, maintaining its position as the largest shareholder and promoter of the company.
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