Citigroup Global, Societe Generale, and Others Buy Rs 458 Crore Stake in Netweb Technologies

On Friday, six big investors, including Citigroup Global Markets Mauritius, ICICI Prudential Mutual Fund, and Societe Generale, bought stakes in Netweb Technologies India worth Rs 458 crore through open market deals.

Key Details:

• Investors like Citigroup Global Markets Mauritius, Discovery Global Opportunity Mauritius, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Societe Generale, and Union Mutual Fund acquired a total of 20,54,795 shares.
• These shares represent a 3.64% stake in Netweb Technologies India.
• The shares were bought at an average price of Rs 2,232.10 each, totaling Rs 458.65 crore.

Promoter Actions:

• Promoters Navin Lodha, Sanjay Lodha, Niraj Lodha, and Vivek Lodha sold the same amount of shares at the same price on the National Stock Exchange (NSE).
• After this sale, the promoters’ combined stake in Netweb Technologies India will drop from 75.04% to 71.4%.

Market Impact:

• Shares of Netweb Technologies India increased by 4.22%, closing at Rs 2,349.80 each on the NSE.