Shares of Hexaware Technologies rose 2% on Wednesday to a high of ₹468.95 after the company’s promoter HT Global Holdings said it had accepted the current delisting price of ₹ 475 per share.
As of 12:25 pm, the stock was trading at 468.20, up 1.64% from its previous close, while the benchmark Sensex index rose 0.04% to 37,750.83.
Hexaware Technologies said in a newspaper advertisement, “The acquirer and promoter have accepted the unclaimed price of ₹ 475 per share as the final / exit price for the delisting offer.”
HT Global IT Solutions Holdings, the investment arm of Baring Private Equity Asia, which owns just a 62% stake in Hexaware Technologies, previously announced an attractive offer for acquisitions of up to 11.38 million. Rupees of shares, accounting for 37.92% of the total. Issued the share capital of the company from public shareholders.
The acquirer set a minimum price of Rs 264.97 per equity share for the delisting proposal. Hexaware Technologies’ opt-out process from BSE and NSE began on 9 September and ended on 16 September.
“The acquirer shall legitimately acquire 87.28 million shares at the initial price in the process of creation of the reverse book or below it and after completion of the acquisition, profit participation and promoter together with other members Promotion Group 91.16 percent in the company’s capital stock Which will exceed the minimum number of shares required for the delisting offer.
Merged net income of IT consulting and digital solutions provider declined 12.86% to Rs 152.45 crore in the June quarter. Its operating income increased by 1.77% to Rs 1,569.12 crore during this period.