Hexaware Technologies delisting: Baring Private Equity Asia to buy a 29% stake from public shareholders

With this transaction, the combined ownership of BPEA controlled entities will increase to 91% in Hexaware.

Sep 24, 2020 10:09 IST India Infoline News Service

In an ongoing delisting process, the Baring Private Equity Asia (BPEA) has agreed to purchase stakes from the Hexaware Technologies public shareholders. BPEA will carry the process through its affiliated entities HT Global Holdings B.V. (the Acquirer) and HT Global IT Solutions Holdings.

BPEA will purchase approximately 29% stake from the company's public shareholders through HT Global Holdings.

With this transaction, the combined ownership of BPEA controlled entities will increase to 91% in Hexaware.

Jimmy Mahtani, Managing Director of BPEA said, “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”.

While making a significant follow-on investment in Hexaware, BPEA continues to believe in the strength of Hexaware’s technology capabilities and its employees, the company said in the regulatory filing.

Hexaware also said in the filing that following the investment, Hexaware’s strategy will remain focused on building on its high performing technical talent base and investing in new capabilities in line with its strategy of ‘Automate Everything, Cloudify Everything, Transform Customer Experience’.

At around 10.17 AM, Hexaware Technologies stock was trading flat at Rs467.85 per piece flat compared to the previous closing on Sensex. The stock has touched an intraday high and low of Rs468.50 per piece and Rs467 per piece. 

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