Moneycontrol PRO
you are here: HomeNewsBusiness

Baring PE Asia to delist Hexaware from stock exchanges in India

Baring PE Asia will have close to 91 percent ownership after it acquires additional 29 percent stake from public shareholders through its entities HT Global Holding BV (acquirer) along with HT Global Holdings (promoter)

September 23, 2020 / 10:49 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

As Baring PE Asia (BPEA) goes ahead with the delisting of Hexaware, it will have close to 91 percent ownership in the company.

This is after it acquires additional 29 percent stake from public shareholders through its entities HT Global Holding BV (acquirer) along with HT Global Holdings (promoter), the company said in a BSE filing on September 23.

This comes after BPEA accepted Rs 475 per share as the final price for the delisting offer.

All public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs 475 per share. The last date for payment to all public shareholders whose bid has been accepted is September 30, 2020. Those public shareholders whose bids have been rejected will have their shares returned.

In the statement, BPEA said following the delisting, Hexaware’s strategy will continue to focus on building its talent base and investing in new capabilities in line with its strategy of ‘Automate Everything, Cloudify Everything, Transform Customer Experience’.

Close

“BPEA and the Hexaware management team remain committed to delivering innovative, high-quality technology outcomes for its clients and maintaining the highest corporate governance standards,” the statement added.

Jimmy Mahtani, managing director, BPEA, said in the statement, “As an existing shareholder of Hexaware since 2013, we have a longstanding relationship with the company and its professional management team. We believe Hexaware’s strength in digital technologies and its strong technical talent positions it well to support its clients as they accelerate their digital transformation agenda, and we are excited to be supporting the business in the next phase of its growth as a private company."

BPEA has majority shareholding in two other IT services firms, Coforge, erstwhile NIIT Technologies, and Virtusa.
Moneycontrol News
first published: Sep 23, 2020 10:49 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark