This refers to “Oversight, price correction behind Nalanda’s U-turn” (June 26). Nalanda Capital has been right in exiting Mindtree. Even if their decision is based on a correct assessment of the price scenario and how it is likely to move in future, this key institutional investor also seems to have realised that the fight of original promoters and minority shareholders was unreasonable, illogical and pointless. Their passionate attachment to the company perhaps made them overlook the ground reality that they didn’t have a chance to keep L&T out. The accusation of acting in concert may also have been a trigger in their decision to offload the Mindtree stake. Either way, they have acted prudently.
Going by its track record, L&T will in all probability add great value to the company. With synergies, Mindtree or the merged entity should emerge as a bigger global powerhouse for IT solutions. No one will forget the pioneering work done by the founder promoters. There’s a time to let go and every entrepreneur should be able to make that call rather than drag their feet.
Krishan Kalra , Gurugram