Baring PE Asia to sell about 8% stake in Hexaware Technologies, says report

Baring Private Equity Partners Asia, a private equity company, is likely to sell around 8.4 percent stake in Hexaware Technologies through block deals, Times of India reported.

The stake is likely to be sold on the bourses on Friday for about Rs 1,120 crore, the report said.

Around 2.5 crore shares are being offered to investors through book-building method at a price of at least Rs 470 per share, a discount of about 10 percent to Hexaware's previous day's close of Rs 498, according to the report.

Citigroup Global Markets India is the broker that is executing the deal, the report added.  As of date, HT Global IT Solutions Holdings, an arm of Baring PE Asia, held 71.2 percent stake in Hexaware.