VARINDIA IT MAGAZINE

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Hexaware Technologies Limited  has announced that affiliates of  Baring Private Equity Asia ("Baring Asia")  have signed definitive agreements to purchase approximately 125 million Hexaware shares, from Promoter Entities, led by Atul Nishar (which holds 27.7% of currently outstanding share capital), and GA Global Investments Ltd (which holds 14.1% of currently outstanding share capital), an affiliate of General Atlantic ("GA"), in aggregate representing 41.8% shareholding in Hexaware. Under the terms of the Share Purchase Agreement, Baring Asia will pay the Promoter Entities and GA a price of INR126 or INR135 per share aggregating INR1,575–1,687 crore (approximately $242–260 million based on INR/USD rate of 65), with the higher price of INR135 per share being payable on Baring Asia reaching 50% or above aggregate shareholding in Hexaware in the transaction. Atul Nishar, Chairman, Hexaware , said, "Since I f...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Hexaware has received Golden Peacock Award for Excellence in Corporate Governance. The award was presented by Honourable Mark Hoban, Financial Minister to Her Majesty's Treasury (United Kingdom's Economics and FinanceMinistry) during the 11th International Conference on Corporate Governance in London. Hexaware was judged to have met the award's exacting criteria for applying the most robust structures, processes and procedures for corporate governance throughout its operations. The honour is especially relevant given that corporate governance best practices are considered key benchmarks by stakeholders. P. R. Chandrasekar, CEO & Vice Chairman, Hexaware Technologies said, "It is a matter of great pride for Hexaware to receive such a prestigious award. It is an outstanding recognition and a befitting testimonyto our efforts to continually implement and follow best practices in corporate governance in our industry." For...