IDFC Investment Advisors Ltd, the investment management subsidiary for India Development Fund, has sold 0.80 per cent stake in Hyderabad-based animation company DQ Entertainment (International). IDFC sold 0.63 million shares at Rs 20.01 per share in DQ Entertainment in a bulk deal on Monday for Rs 1.26 crore (Rs 12.63 million) on the Bombay Stock Exchange (BSE).
IDFC Investment had picked up a small stake in early 2010 as part of pre-IPO placement in the animation company, which primarily provides services related to animation production for television and film production companies.