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Baring to take Hexaware private, accepts exit price of Rs 475 per share

The private equity major may have to spend as much as Rs 5,400 crore to buy out the entire 37.9 per cent stake from public shareholders

IT firms
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The company said the payments to shareholders, who have successfully tendered their shares, will be made by September 30.

Samie Modak Mumbai
Mid-size IT firm Hexaware Technologies will soon go private. Promoter Baring Private Equity Asia has accepted the exit price of Rs 475 per share discovered through the reserve book building (RBB) process. 

The private equity major may have to spend as much as Rs 5,400 crore to buy the entire 37.9 per cent stake from public shareholders. The price discovered through the RBB process has come in at a premium of nearly 67 per cent to the floor price of Rs 285 per share set by the company.

Market observers said this is the first high-profile delisting since that of Polaris Consulting

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First Published: Sep 23 2020 | 6:07 PM IST

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