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Heading for the exit

Geometric Software founder Manu Parpia pares his stake for first time post HCL buyout

Manu Parpia is making his intentions very clear. The founder chairman of Geometric Software, post the company’s takeover by HCL Technologies, is paring his stake in the business that he founded in 1984.

Post the takeover announcement in April 2016, the share price of Geometric has gained 34% till date. Now, almost a year later, on March 3, Parpia for the first time sold 10 lakh shares in the open market for close to ₹26 crore. The country’s third-largest asset management company, Reliance Mutual Fund, picked up 752,500 shares (1.14% stake) for ₹19.5 crore through a bulk

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