According to recent reports, the company plans to divest its software services business which accounts for 75-80% of the revenues and is seeking valuation of $400-450 million for the same.
Reports suggest that L&T Infotech, Mahindra Satyam, Wipro, Cognizant and Infosys are some of the software companies that are showing interest in acquiring the services business from Polaris at valuations of around $330-$350 million.
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The interest shown by various software majors is because Citi which is one of Polaris' largest clients accounts for 35% of services revenues.
Over 5.5 million shares were traded on the stock exchanges so far.
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