Big foreign funds sell Subex shares

Subex will remain in focus, as FIIs continue selling the company’s shares. On Friday, Merrill Lynch and QVT Mauritius offloaded about 1.05 crore and 95 lakh shares respectively, bulk deal data on the BSE and NSE websites reveal. During July-September, FII majors such as QVT, Deutsche Bank, Merrill Lynch and Suffolk (Mauritius) sold a large numbers shares of the company. Promoter holding has fallen below 1 per cent, with these being encumbered by financial lenders.