HGS International Mauritius acquires balance 4.8% stake in HGS Colibrium

Hinduja Global Solutions subsidiary HGS International Mauritius has acquired balance 4.8 cent stake in HGS Colibrium Inc, USA, taking its total holding to 100 per cent, according to a regulatory filing.

The consideration for acquisition of additional 4.8 per cent stake was USD 108,713 (Rs 77.7 lakh) in cash, the BSE filing by Hinduja Global Solutions said.

"This is to inform that HGS International Mauritius, (a wholly owned subsidiary of Hinduja Global Solutions Limited) which holds 95.2 per cent equity interest in 'HGS Colibrium Inc., USA' has acquired an additional equity interest of 4.8 per cent in 'HGS Colibrium Inc, USA'," it said.

Accordingly, the shareholding of the HGS International, Mauritius in HGS Colibrium -- a platform company which helps health insurance companies sell and enroll customers for their health insurance plans -- has increased to 100 per cent, it added.

HGS Colibrium USA was incorporated in 2005 and its revenue for fiscal 2019 stood at USD 3,833,408.