HCL Technologies to see block deal worth Rs 1,757 crore on Friday

HCL Technologies is likely to see a block deal worth Rs 1,757 crore (approximately $200 million) on Friday, according to a term sheet issued by Citigroup. The bank did not disclose the name of the seller, who will offload 0.46% or 1.24 crore shares in a cleanup deal, according to the term sheet. The seller has set a floor price of Rs 1,414.90 per share, a discount of 2.75% to Thursday’s closing price of Rs 1,454.90 on the NSE.

Shares of HCL Technologies have gained 7.52% in the last one month compared to 5% gain in the benchmark Sensex.