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Hexaware Technologies crashes 19%

Yatheendradas C.k. at 10:20 PM - Aug 25, 2018 ( ) Views: 619

Hexaware Technologies crashes 19%

PTI   BUSINESS LINE

AUG 24
Shares of Hexaware Technologies slumped as much as 19 per cent in the morning trade on reports that Baring PE Asia is selling stake worth around Rs 1,100 crore.

According to reports, Baring PE Asia through an entity called HT Global IT Solutions Holdings will sell stake around Rs 1,120 crore.

Following this, shares of Hexaware Technologies opened on a weak note at Rs 453, then fell to a low of Rs 415.20, down 16.57 per cent from their previous closing price.

Similar movement was seen on the NSE as well, where the stock opened at Rs 452, then fell to a low of Rs 401.10, down 19.24 per cent over its last close.

HT Global is the investment vehicle through which Barings Asia holds a controlling stake in company.

As per the June quarter, HT Global IT Solutions Holdings holds 21,13,18,590 shares, amounting to 71.22 per cent stake in the company.


From: yatheendradas c.k. at 10:43 PM - Aug 25, 2018( )


Last Updated : Aug 24, 2018 09:05 PM IST | Source: PTI

Baring PE Asia sells over 8% stake of Hexaware Tech for Rs 1,120 crore

According to the NSE data, the buyers included Citigroup Global Markets Mauritius and Societe Generale. Baring offloaded 2.50 crore shares, amounting to 8.42 percent stake in the IT firm.

PTI@moneycontrolcom

Baring PE Asia today sold over 8 per cent stake in IT firm Hexaware Technologies for nearly Rs 1,120 crore through an open market transaction. The shares were disposed of by the private equity firm through HT Global IT Solutions Holdings, an investment vehicle through which Baring Asia holds a controlling stake in Hexaware.

According to the NSE data, the buyers included Citigroup Global Markets Mauritius and Societe Generale. Baring offloaded 2.50 crore shares, amounting to 8.42 percent stake in the IT firm.

The shares were sold at an average price of Rs 447.83 apiece, valuing the transaction at Rs 1,119.57 crore, according to the data. As of June 30, 2018, Baring was holding 21.13 crore shares or 71.22 percent stake in Hexaware.

 

Shares of the IT firm today plunged 14 percent on the bourses following reports of stake sale by Baring.

 
 

On the NSE, the stock opened at Rs 452, then fell to a low of Rs 401.10, down 19.24 percent over its last close. The stock finally settled at Rs 425.40, registering 14.35 percent decline.

Similar movement was seen on the BSE. The shares opened at Rs 453, then tumbled to a low of Rs 415.20, down 16.57 percent from its previous closing price. The stock recovered some lost ground and finally ended at Rs 431.50, down 13.30 percent.


From: yatheendradas c.k. at 10:51 PM - Aug 25, 2018( )


Hexaware Tech shares plunge 17% on reports of promoter stake sale

Hexaware Tech shares fall as much as 16.57% to Rs 415.20 per share after the company witnesses series of block deals in which 23.3 million shares changed hands


(1 to 4 out of 4) - Latest Replies on Top | First | << Previous | Next >> | Last |
Yatheendradas C.k. at 08:17 AM - Aug 27, 2018 ( )

Thaku Sri. Sudararajan

 

Sundararajan Easwaran at 06:31 AM - Aug 27, 2018 ( )

All your posts are very informative. Your good efforts are always appreciated.  Thanks a lot Bro.

Yatheendradas C.k. at 10:45 PM - Aug 25, 2018 ( )

I can not predict anything in this mattter. I have placed the information available in public domin for information on one and all

Sundararajan Easwaran at 10:30 PM - Aug 25, 2018 ( )

Brother, can we expect this to go further down this week?

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