Permira may be in the race for Cambridge Soln

Excerpts from CNBC-TV18's exclusive interview with Satyen Patel:

Q: Is there any truth to the news of the promoters wanting to sell? If they are true, is Permira one of the companies who have shown interest?

A: We have our annual board meeting scheduled for June 19 for our annual results. So, we are technically in a quiet period here.

We have been receiving unsolicited offers from several firms both in the strategic buyers as well as in the private equity space.

We have been looking at raising some equity at the holding company level; not necessarily at Cambridge Solutions, to retire some debt that we have as promoters. In that context, we have several options. One option is to raise capital at the holding company level, which could probably trigger an open offer at some extent, if it goes beyond a certain minority position.

At the June 19 meeting, if there is something appropriate we will bring it to the board members. All we can say, at this point, is that we have been receiving unsolicited offers. We are reviewing all of them but we made no decisions one way or the other.

Q: Is the company contemplating a divestment sale by existing promoters, an issue of fresh shares or a sell of fresh shares?

A: We are looking at all options. No options have been disclosed but it could involve divestment of some shares. It could also involve some infusion of equity into the company. We have not closed any options on that.

Q: There is talk about pick up of 42% stake at a price of Rs 160. Could you confirm or comment on that?

A: Officially, we don't comment on any market speculative rumours. We have unsolicited offers and we are viewing all of them. But I cannot specifically comment.

Q: How much stake is on the block? Could you confirm that or put a number to that?

A: I cannot confirm nor deny that.

Q: Can we expect something to be announced on June 19?

A: If it is appropriate for us, at that point, we will definitely bring it to the attention of the board on June 19 or at any subsequent board meeting we may specially call for this purpose.

But at this point, we don't have anything that is substantial enough for me to announce today. Also, my quiet period restrictions are on till June 19.