Satyam - Maytas deal - Investors at loss

Public shareholders who bore the maximum brunt losing more than eight times the promoters. Investors loose 30% in a day.

MUMBAI: In today's 30 per cent crash in the shares of IT major Satyam Computer, it was the public shareholders who bore the maximum brunt losing more than eight times the promoters.

While the promoters' share in the total market capitalisation loss of Rs 4,600 crore stood at about Rs 400 crore, the same for non-promoter shareholders was about Rs 3,300 crore.

Satyam this morning called off a deal announced last evening to acquire two companies promoted by the family members of its chief B Ramalinga Raju for nealy Rs 8,000 crore.

Checkout: Satyam Computer Services - Sell recommendation research report

The promoters, the company chairman B Ramalinga Raju's family, hold just about 8.61 per cent of the company's shares, while institutional and non-institutional investors have more than 72 per cent of stake in the company. About 19 per cent of equity are held in custodian accounts.

At the end of today's trading when Satyam shares plunged 30 per cent to close at Rs 158.05, the company's market cap dropped to Rs 10,650 crore. The stock also hit a 52-week low of Rs 153.80 on the Bombay Stock Exchange.

The shareholders include insurance companies like LIC, financial institutions, mutual funds and foreign institutional investors, including Citigroup Global Markets Mauritius, JPMorgan Asset Management and Government of Singapore among others.

The shareholding details of Satyam are for the quarter ended September, according to information available on the Bombay Stock Exchange.

Yesterday, after the company announced the proposed USD 1.6 billion (Rs 8,000 crore) acquisition of two infrastructure companies led by IT major chief Ramalinga Raju's son, its shares had plunged 55 per cent to USD 5.70 on the New York Stock Exchange.