Baring Private Equity Asia ("BPEA") through its affiliated entities HT Global Holdings B.V. ("the Acquirer") and HT Global IT Solutions Holdings Limited has agreed to take Hexaware Technologies Limited ("Hexaware") private through an ongoing delisting process. Under the transaction, the Acquirer will purchase an approximate 29% stake from public shareholders, increasing the combined ownership of BPEA controlled entities to approximately 91%.
In making a significant follow-on investment in Hexaware, BPEA continues to believe in the strength of Hexaware's technology capabilities and its employees. Following the investment, Hexaware's strategy will remain focused on building on its high performing technical talent base and investing in new capabilities in line with its strategy of 'Automate Everything, Cloudify Everything, Transform Customer Experience'. BPEA and the Hexaware management team remain committed to delivering innovative, high-quality technology outcomes for its clients and maintaining the highest corporate governance standards.
Jimmy Mahtani, Managing Director of BPEA said, "As an existing shareholder of Hexaware since 2013 we have a longstanding relationship with the company and its professional management team. We believe Hexaware's strength in digital technologies and its strong technical talent positions it well to support its clients as they accelerate their digital transformation agenda, and we are excited to be supporting the business in the next phase of its growth as a private company".
Shares of HEXAWARE TECHNOLOGIES LTD. was last trading in BSE at Rs.468.05 as compared to the previous close of Rs. 460.65. The total number of shares traded during the day was 32122 in over 761 trades.
The stock hit an intraday high of Rs. 468.95 and intraday low of 463. The net turnover during the day was Rs. 14989053.