Marina Holdco, which was an early investor in Zensar Technologies, has sold half of its stake which is close to 11 percent. There was a block deal of nearly 2.3 crore shares that took place early in the morning and CNBC-TV18 has confirmed that it’s Marina Holdco that has sold the stake.

Marina Holdco had invested in 2015 in the company, so they have been holding on for the last 5.5 years. As of March, they held close to 23 percent stake and half of that has been cashed out today.

One of the reasons could be the fact that the stock has started doing well and it’s up 150 percent in the last year. So, they were looking to monetize that stake.

Watch the accompanying video of CNBC-TV18’s Reema Tendulkar for more details.

(Edited by : Anshul Majumdar)