Deal Closed | Citigroup Global Markets India Private Limited | Voluntary Delisting – Hexaware Technologies Limited

The details of the deal are as under

Sector: IT

Announcement Date: 03-Sep-2020

Name of Client: Citigroup Global Markets India Private Limited

Name and Description of Target: Hexaware Technologies Limited | India

Hexaware Technologies Limited (Hexaware) is a global provider of information technology and business process outsourcing services and consulting with over 200 active customers 8 global development centers and a presence in 35 countries. The key service lines for Hexaware include application transformation and maintenance enterprise solutions quality assurance and testing business intelligence business process outsourcing and infrastructure management services.

Deal Description: Voluntary delisting offer for the equity shares of Hexaware Technologies Limited made by the Baring group (through HT Global Holdings B.V) in accordance with the SEBI Delisting Regulations.

Total Consideration: INR 30 billion (USD 416.5 million)

Team Members: Arindam Ghosh (Partner), Sudhir Bassi (Executive Director), Anvita Mishra (Senior Associate) and Shashank Patil (Senior Associate)

Role of Firm: Acted as counsel to Citigroup Global Markets India Private Limited, one of the merchant bankers, in relation to the voluntary delisting of equity shares of Hexaware Technologies Limited in accordance with the SEBI Delisting Regulations and advised on the corporate law and securities law related aspects of the transaction.

Financial Advisors: JM Financial Limited Citigroup Global Markets India Private Limited 

Other legal advisors: J Sagar Associates (counsel to the acquirer) AZB & Partners (counsel to the target company)