Last week, the company had said that SRSR Holdings' stake in Satyam has come down to 5.13 per cent due to the sale of shares pledged by the promoters to lenders for raising funds. On last Friday institutional investors had sold 3.14 per cent stake in the company.

The promoters had pledged their entire equity holding of 8.61 per cent to the institutional investors which include ICICI Prudential, Aberdeen Asset Management and Fidelity. The institutional investors together hold 60 per cent stake in the IT major.

In another filing, IL&FS Trust Company said it has sold over 2.45 crore shares, representing 3.64 per cent stake, of Satyam Computer Services within a fortnight in open market transactions. The market value of this stake, which was held by IL&FS on behalf of various lenders, at the current market price of Rs 179.10 on the BSE works out to Rs 439 crore.

IL&FS Trust sold 2,45,20,500 Satyam shares in its capacity as trustee for debenture holders and lenders which include DSP Merrill Lynch, DSP Blackrock, Deutsche Bank, HDFC Mutual Fund and IL&FS Financial Services, Satyam said in a filing to the stock exchanges today. “The pledged Satyam shares have been sold by IL&FS on specific written instructions of the said debenture holders and lenders,” the filing added.

The Rajus which were holding over 25 per cent in the company in 2001 reduced their stake over the years.