Date:18/05/2005 URL: http://www.thehindubusinessline.com/2005/05/18/stories/2005051801940500.htm

Back Surana promoter sells part stake in open market

Our Bureau

Hyderabad , May 17

SURANA Telecom Ltd has informed the National Stock Exchange that its Managing Director, Mr Narender Surana, has sold 2,06,680 equity shares of the company in the open market between April 28 and May 16.

The shareholding of Mr Surana, after the sale, is 31,21,430 equity shares aggregating to 13.81 per cent of the share capital of the company.

In the quarter ended March 31, 2005, the company's promoters held 54.53 per cent equity shares, with the Indian public accounting for 29.06 per cent.

The company had earlier this month informed the exchange that the board had considered the proposal of restructuring the company's business and de-merge the infrastructure business from the company, transferring the same to a new company.

This move is aimed at positioning it as a telecom company.