ICICI Direct: Hexaware Technologies Accepts Rs 475 Per Share As Final Delisting Price   
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ICICI Direct: Hexaware Technologies Accepts Rs 475 Per Share As Final Delisting Price   

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

HT Global Holding BV (Acquirer) along with HT Global Holdings Ltd. (promoter) of Hexaware Technologies Ltd. have accepted Rs 475/share as the final price for delisting offer.

We believe that through this offer price the acquirer and promoters along with other members of the promoter group would have minimum 91.16% shareholding through the reverse book building process, which would exceed the minimum number of equity shares required for delisting of shares.

Hence, we believe this will lead to delisting of company shares (subject to regulatory approvals).

All public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs 475/share.

The last date for payment to all public shareholders whose bid have been accepted is September 30, 2020. Those public shareholders whose bids have been rejected will have their shares returned.

We believe those shareholders who have not tendered their shares or whose bids have been rejected will be given an opportunity to tender their shares at delisted price however the modalities of the same will be announced in due course.

Click on the attachment to read the full report:

ICICI Direct Hexaware Technologies Company Update.pdf

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