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Aptech board may ratify stake sale proposal on Jan 20
The Aptech board may meet on January 20 to ratify the stake sale. Sources say that two bidders have emerged neck-to-neck in the race and a surprise PE player is in the running too.
The Aptech board may meet on January 20 to ratify the stake sale. Sources say that two bidders have emerged neck-to-neck in the race and a surprise PE player is in the running too. CNBC-TV18's Kritika Saxena reports.
CNBC-TV18 has been tracking the stake sale. Last week, it reported that Aptech board is likely to meet soon. Now it understands that the date has been finalised and this of course will be clubbed along with the results and interim dividend, which is likely to be given out.
Talking about the bidders, the channel learns that two players are neck to neck in the race. Manipal Universal could be a likely frontrunner, but sources say that Carlyle is also bidding for this particular stake along with a consortium of private equity players. Considering that Carlyle is a private equity player, we could probably see a little bit of an edge towards Carlyle, purely because they have better financial muscle.
We need to see exactly what the board decides. There are some bids that have been given in pure cash and some which include cash and stock, so lot of these areas will be looked into.
No official comments as always, but January 20 will be a very crucial day for the Aptech stock. If it does not approve this, we will probably see this stake sale talks being extend for another one or two months.
