The board of directors of the company, at its meeting scheduled to be held on August 07, 2018, would be considering a proposal for buyback of the equity shares of the company.
Shares of Mphasis rose 4.2 percent intraday Friday as company is going to consider buyback of its shares next week.
The board of directors of the company, at its meeting scheduled to be held on August 07, 2018, would be considering a proposal for buyback of the equity shares of the company.
As of June 2018, promoter Marble II Pte Limited, a unit owned by PE firm Blackstone, held 52.37 percent stake in the company while mutual funds held 8.43 percent stake and foreign portfolio investors owned 29.17 percent stake.
In May this year, Marble II Pte Ltd sold 8 percent in Mphasis at Rs 960 per share, which is the double price it paid for buying the stake in the company from HP.
The buyers were also foreign investors T Rowe Price, Aberdeen, and Oppenheimer.
In April 2016, Blackstone purchased HP's 60.5 percent stake in the IT company at Rs 430 per share.
At 09:36 hrs MphasiS was quoting at Rs 1,216.05, up Rs 40.95, or 3.48 percent on the BSE
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