Polaris delisting: Minority shareholders to get more premium than promoters

Kris Canekeratne, chairman & CEO of Virtusa Corporation, which recently completed a reverse book building exercise to delist Polaris Consulting, explains what the delisting means for his company

US-based information technology services company Virtusa Corporation recently completed a reverse book building exercise to delist Chennai-based Polaris Consulting, in which it acquired a majority stake through an announcement in November 2015. The delisting is expected to help Virtusa in the management of its Indian assets and offer more value to shareholders in the US. The company’s growth in its Indian advanced technology centres is expected to continue. In an interaction with Gireesh Babu, Kris Canekeratne, chairman & CEO of Virtusa Corporation, explains what the delisting means to Virtusa. Edited Excerpts:

What is the status of the Polaris delisting and how