Edelweiss Employees Trust Sells Stake In Edelweiss Financial Services For Rs 145 Crore

Edelweiss Employees Welfare Trust on Tuesday divested a 1.7% stake in Edelweiss Financial Services Ltd. for nearly Rs 145 crore through an open market transaction.

According to the bulk deal data available on the BSE, Edelweiss Employees Welfare Trust offloaded 1.6 crore shares or 1.7% stake in Edelweiss Financial Services. The shares were sold at an average price of Rs 90.40 apiece, taking the deal value to Rs 144.64 crore.

At the end of the March quarter, Edelweiss Employees Welfare Trust owned a 1.81% holding in Edelweiss Financial Services.

Meanwhile, Mumbai-based investment management firm Carnelian Asset Management & Advisors picked up 80 lakh shares or 0.85% stake in Edelweiss Financial Services. The shares were acquired at the same price, taking the transaction value to Rs 72.32 crore.

Details of other buyers of Edelweiss Financial Services' shares could not be ascertained. On Tuesday, shares of Edelweiss Financial Services rose by 2.55% to close at Rs 93.69 apiece on the BSE.

In a separate bulk deal on the NSE, US-based Massachusetts Institute of Technology (MIT) sold a 1% stake in Protean eGov Technologies Ltd. for Rs 41 crore through an open market transaction.

As per the data, MIT disposed of 4.01 lakh shares or 0.99% stake in Protean at an average price of Rs 1,026 apiece. Details of buyers of Protean eGov Technologies shares were not available.

Protean eGov Technologies shares plunged 8.33% to settle at Rs 1,048 per share on the NSE on Tuesday.

On Monday, Protean eGov Technologies shares tanked 20% to hit the lower circuit limit after the firm lost the bid proposal for the PAN 2.0 project.

In an exchange filing on Sunday, the company said it has not qualified for the selection round of the PAN 2.0 project of the Income Tax Department (ITD).

The tax department issued a notice for Request for Proposals (RFP) inviting bids for selection of Managed Service Provider (MSP) for design, development, implementation, operations and maintenance of its PAN 2.0 Project.