Mindtree seeing some action

Mindtree is down in the red today morning, with the stock price slipping over 3% to Rs.844, with an over 2.5 times rise in volumes.

The largest investor in Mindtree, CCD founder, V G Siddhartha is apparently looking to exit the company. While Siddhartha wants to sell, news is that PE firm, KKR is interested in buying.

Siddhartha and through his various companies, they hold some 26% stake. In fact Siddhartha was on the Board of Mindtree as an Independent Director and he had resigned in March 2018.

All this is unconfirmed news but the word is that he wants to now cash out on his investments and re-deploy to scale up his CCD operations.