Baring Private Equity Asia plans to sell 71% stake in Hexaware

The deal may value the Indian outsourcer at Rs 8,000 crore, says report.

Baring Private Equity Asia is reportedly planning to sell its 71% stake in Hexaware Technologies.

The deal may value the Indian outsourcer at Rs 8,000 crore, says report.

The Hong Kong-based Baring PE has initiated talks with France's Capgemini and private equity funds such as the Blackstone Group and the Carlyle Group, according to the financial newspaper.

If successful, the deal will provide more than a 30% internal rate of return (IRR) for Baring, reports the daily.

The transaction will mark Baring Asia's second exit from India after a successful sale of its holding in Lafarge's India unit.

Hexaware Technologies Ltd ended at Rs. 249.75, up by Rs. 13.75 or 5.83% from its previous closing of Rs. 236 on the BSE.

The scrip opened at Rs. 237.5 and touched a high and low of Rs. 251.7 and Rs. 237.5 respectively. A total of 1385856(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7531.53 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 335.45 on 13-Apr-2015 and a 52 week low of Rs. 192.75 on 07-Jan-2015. Last one week high and low of the scrip stood at Rs. 251.7 and Rs. 232.5 respectively.

The promoters holding in the company stood at 71.32 % while Institutions and Non-Institutions held 17.17 % and 11.46 % respectively.

The stock traded below its 200 DMA.