HCL Tech eyes majority stake in EXL Services: Sources

31337 Investors following HCL Tech. Share this News with them.

0

Like this story, share it with millions of investors on M3

HCL Tech eyes majority stake in EXL Services: Sources

In what could be an important M&A development in the BPO space, HCL tech may be eyeing a majority stake in EXL services reports CNBC-TV18's quoting sources.

Post your opinion here

 

0

Tweet

Share on Tumblr

In what could be an important M&A development in the BPO space, HCL Tech may be eyeing a majority stake in EXL services reports CNBC-TV18' Kritika Saxena quoting sources.

EXL Services has filed with SEC for share sale by its shareholders. Sources say it may raise up to USD 180 million via primary share sale.

It is learnt that HCL Tech may make formal bid for EXL Services and has already completed due diligence for it. Oak Hill and Blackrock which holds 36.5% and 11.3% respectively are likely to exit from EXL Services.

According to sources, JPMorgan, UBS and Citi are likely to be handling mandate for the deal. However, HCL Tech has declined to comment calling it a mere speculation.