Polaris Software

Citi continuous to sell shares of Polaris in the open market. in the last few months Orbitech, an entity controlled by Citi, has sold over 5% of its holding in the company. according the bulk deal trade data on the NSE, Orbi Tech sold 7.5 lakh shares at Rs 166.04 a piece on Tuesday. as of 30Th June 2009, Citi held a 43.33% stake in Chennai based Polaris but after a series of open market selling in the last few months, that stake is down by over 5% to 38%. Citi holds a stake in Polaris through two entities Orbitech and Citi bank A/C Bitech Ltd.