Billionaire investor Rakesh Jhunjhunwala has concluded the auction for Aptech stake, reports CNBC-TV18's Kritika Saxena.
In fact, the channel had reported about three weeks back that an auction process has started. Jhunjhunwala had had given out the mandates to several education solution players and out of these, CNBC-TV18 reports, that Manipal Universal Group and TeamLease have some bids.
Sources say, on Monday, the auction has officially ended and hence the highest bidder has been selected. Unfortunately, we don't have the names yet. However, sources add, the price could be anywhere between Rs 110 per share to Rs 150 per share. We can't really jump on the exact price. But we do understand that the highest bidder will be communicated to the board soon. This could be as early as next week.
Of course, it could be postponed depending upon what are the discussions between Rakesh Jhunjhunwala, Rare Enterprises and Aptech.
