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Sat, Aug 24, 2013 at 16:54

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Baring private equity Asia will hike its stake in IT firm Hexaware to beyond 50 percent by buying a 41.8 percent stake in the company from the promoter entities.

Baring will buy founder-chairman Atul Nishar's 27.7 percent stake and the 14.1 percent stake held by GA Global Investments, a subsidiary of General Atlantic. The total deal size stands at over Rs 1,600 crore.  General Atlantic exits Hexaware with atleast a gain of 1.5x the investment it had made in the company.

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