Should you apply for MindTree open offer?

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Should you apply for MindTree open offer?

MindTree will pick up 32.57% in Aztecsoft at Rs 80/sh and will make an open offer for an additional 20% stake. The deal values Aztecsoft at $90 m. MindTree will merge Aztecsoft after the deal is complete. MindTree has announced that the acquisition will be funded via internal accruals.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS MindTree to pick up Aztecsoft stake at Rs 80/sh MindTree to acquire 32.57% equity interest in Aztecsoft ALSO READ See latest News about MindTree See previous management interviews See what other Experts & Brokerages are saying about MindTree Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Aztecsoft |

Raja Rajeshwari, CNBC-TV18

MindTree Consulting will make an open offer for an additional 20% stake in Aztecsoft . Should one apply to the open offer?

MindTree will pick up 32.57% in Aztecsoft at Rs 80 per share and will make an open offer for an additional 20% stake in Aztecsoft. The deal values Aztecsoft at USD 90 million. MindTree will merge Aztecsoft after the deal is complete.

MindTree has announced that the Aztecsoft acquisition will be funded via internal accruals. There will be no change in Aztecsoft and MindTree's FY09 guidance and will be run as separate entities. They see a potential of USD 100 million in the OPD business.

The open offer is valued at Rs 80 per share, opening June 30 and closing on July 21.