Baring Private Equity Asia has completed acquiring 41.47 per cent stake in outsourcing firm Hexaware Technologies. The PE firm bought the stake held by outsourcing firm’s promoters and GA Global Investment.
Following the completion of the acquisitions of stake, the existing promoter group led by Atul Nishar have ceased to be promoters of the company, Hexaware Technologies said in a filing to the BSE. Jimmi Mahtani and Kosmo Kalliarekos have joined the company’s board as nominee directors of Baring Private Equity Asia. Baring Private Equity Asia in August had agreed to buy out promoters’ over 41 per cent stake for an aggregate up to Rs. 1,687 crore.