Hexaware Technologies Ltd (HEXT.NS)
9 Dec 2013
|Market Cap (Mil.):||Rs33,675.39|
|Shares Outstanding (Mil.):||299.60|
Baring Private Equity Asia has hiked its holding in Hexaware Technologies Ltd through open market share purchases which would ensure it gets a majority stake of the public-listed firm even if the open offer to the public fails to generate interest. It also means a higher payout for the promoter and the existing private equity investor of the information technology and business process outsourcing service provider.
Private equity major ChrysCapital has started selling stake in Jamshedpur-based JMT Auto Ltd, cutting nearly a third of its stake over the last two trading sessions. This comes even as it has continued to sell its stake in information technology services firm Hexaware Technologies Ltd this week.
HONG KONG, August 27 - News and developments in Asia private equity from Reuters News for the week ending Aug. 23.
MUMBAI, Aug 26 - Shares in India's Hexaware Technologies Ltd rose 4.35 percent at pre-open trading on Monday after Baring Private Equity Asia agreed to buy a controlling stake in it for about $420 million.
GLOBAL MARKETS ROUNDUP * Asian stocks rose and gold hit a near three-month high while the dollar nursed losses on Monday, extending a move started late last week when a steep drop in U.S. new home sales tempered expectations the Federal Reserve will soon reduce stimulus. * The dollar was broadly steady against its major counterparts in Asia on Monday and near enough to some long-lasting support levels that the decline of the past few weeks suggests a rebound is probably on the cards.
Aug 23 - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
- Baring Private Equity Asia has agreed to buy a controlling stake in Indian outsourcing service provider Hexaware Technologies Ltd for about $420 million, underscoring the potential for growth in the country's showcase information technology sector.
REUTERS - Baring Private Equity Asia has agreed to buy a controlling stake in Indian outsourcing service provider Hexaware Technologies Ltd for about $420 million, underscoring the potential for growth in the country's showcase information technology sector.
* To buy about 41.8 pct from Hexaware founders, General Atlantic
Aug 23 - Baring Private Equity Asia has agreed to buy a controlling stake in Indian outsourcing services provider Hexaware Technologies Ltd for about $420 million in one of the largest deals in the country's showpiece information technology sector.