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Mid-sized IT company Hexaware plans to delist from the bourses.
In a statement to the exchanges, Hexaware said that its Board will meet on June 12 to discuss on the proposal by the promoter to acquire all the equity shares held by the public and then subsequently delist.
As a part of the delisting offer, HT Global IT Solutions Company, the promoter has given an indicative offer of ₹285 per share, which is a 9.8 per cent premium on the closing price of the shares on June 4.
As on March 31, the promoter held 1.86 crore equity shares which represents 62.4 per cent of the equity share capital. The public shareholders held 1.12 crore shares representing 37.6 per cent of the equity share capital.
Hexaware reported Q1 profit of ₹175 crore, for the March-ended quarter, a 4.3 per cent sequential rise as compared to ₹167.8 crore posted in the December 2019-ended quarter. On a year-on-year basis, profits were up 26.3 per cent.
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