Tuesday, Dec 2 — The promoters of Mastek Ltd are exploring the sale of around 20% stake in the company, according to a CNBC-TV18 exclusive citing sources familiar with the matter.
As per the report, promoters are seeking a premium of up to 25% over the current market price for the proposed stake sale. Discussions are understood to be driven by succession and leadership stability, following recent senior management changes at the IT services firm.
Sources told CNBC-TV18 that strategic or long-only investors are being viewed as the most likely buyers. Promoter holding in Mastek currently stands at around 36%, making a 20% sale a significant ownership shift if concluded.
The report also notes that Mastek recently appointed Umang Nahata as CEO, effective January 2025. Additionally, 65% of Mastek’s revenue comes from the UK and Europe, making the company heavily dependent on international markets.
