Date:13/10/2004 URL: http://www.thehindubusinessline.com/2004/10/13/stories/2004101301640700.htm

Back TAIB Bank sells Maars shares

Our Bureau

CHENNAI: TAIB Bank, a/c Taib Securities Mauritius Ltd, has sold around 1.90 crore shares of Maars Software International, a Chennai-based software firm, in the last one month.

The selling price ranged between Rs 3.20 and Rs 4.50 a share, according to information available on the Bombay Stock Exchange.

As of June 30, 2004, the total number of shares held by various groups, including promoters, institutional and Indian public, in Maars Software was 6.61 crore.

Despite repeated attempts, Maars officials could not be contacted for a comment.

Information available on Maars Web site says that it has over 150 employees worldwide including 100 SAP (a German firm) consultants, professionals working in the areas of systems, applications and product development (SAP) and implementing applications largely for manufacturing industries.