26th August, 2004
MUMBAI: Shirdi Saibaba is now a major shareholder of Delhi-based IT company Hughes Software Systems Ltd (HSSL).
The Shirdi Sai Trust, which manages the revered Sai Baba temple at Shirdi in Maharashtra, has received by way of donation 20.85 lakh shares of the company, HSSL informed the National Stock Exchange (NSE).
Digital Holdings Pvt Ltd has donated 18 lakh shares of HSSL to the trust, while Digital Networks (India) Pvt Ltd has given 2.85 lakh shares of the IT company, it added.
The combined holding of the donated shares amounts to 6.13 per cent of the paid-up equity share capital of the company, it said.
Maharashtra government has appointed a new management following an ordinance promulgated by the state Governor Mohammed Fazal for the takeover of the trust by the DF government.
Meanwhile in a separate announcement, HSSL said it has received an intimation dated August 23 from the company’s assistant vice-president Ajay Gupta, stating that he has sold 2,500 shares of the IT company.
Gupta holds 8,300 shares, it said, adding the value of the shares sold exceed Rs 5 lakh.
The scrip of the IT company closed at Rs 533.50 on the National Stock Exchange on Wednesday.