Global investor Qualcomm Ventures divested nearly a 1 per cent stake in logistics solutions provider Shadowfax Technologies for Rs 157 crore through an open market transaction on Monday.
Qualcomm Ventures, through its affiliate Qualcomm Asia Pacific Pte Ltd, sold a little over 57.13 lakh shares, representing a 0.98 per cent stake, in Bengaluru-based Shadowfax Technologies, according to bulk deal data on the BSE.
The shares were sold at an average price of Rs 275.30 per share, taking the deal value to Rs 157.28 crore.
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Qualcomm Asia Pacific is a regional corporate affiliate and investment arm of US-based semiconductor and wireless technology major Qualcomm.
At the end of the June quarter, Qualcomm Asia Pacific Pte Ltd owned a 2.26 per cent stake in the company, according to shareholding data on the exchange.
Details of the buyers could not be identified.
Shadowfax Technologies' shares ended marginally lower at Rs 294.75 apiece on the BSE.
In August, Qualcomm Ventures sold a 1.3 per cent stake in Shadowfax for Rs 184 crore.
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