Nalanda Capital Picks Up 2.4% Stake In Aztecsoft

Singapore-based Nalanda Capital has picked up a 2.36% stake in outsourcing product development firm Aztecsoft Ltd on Thursday. Nalanda India Fund picked up the stake for Rs 3.8 crore from ICICI Prudential Life Insurance on the Bombay Stock Exchange through bulk deal route. The deal is interesting as Nalanda picked up a stake in MindTree Ltd earlier this month.

MindTree acquired Aztecsoft last year for around Rs 400 crore in one of the biggest deals in domestic IT space. MindTree holds an 80% stake Aztecsoft, while rest is held by trusts and public shareholders. Nalanda bought nearly a 2% stake in MindTree for Rs 15.6 crore from venture capital firm Walden International on February 3. Going by Nalanda's previous investments, the firm is likely to pick up more stake in these two firms.