On December 15, Rao sold 1,71,621 shares, which on a price of around Rs 290, netted him close to Rs 5 crore (Rs 50 million).
On December 22, he shed another 6.4 lakh shares, which got him around Rs 18.5 crore (rs 185 million), taking the total to about Rs 24 crore (Rs 240 million). After this transaction, Rao's holding in MphasiS has come down to 2.45 per cent.
This is the second large tranche of shares Rao has shed after he tendered 18,75,000 shares during mid-May 2006 in response to EDS's first open offer of Rs 204.50 per share giving him close to Rs 38 crore (Rs 380 million).
