SEBI has allowed an extension to the closure of Hexaware Technologies' delisting offer to Thursday. Remember, it was supposed to close on Wednesday. In an interview to CNBC-TV18, R Srikrishna, CEO of the company spoke at length about the process. Srikrishna said Barings will follow the delisting process. I am not aware of their plans.
When asked about consolidation, he said, “I personally do not think there is value in merging companies with similar abilities. So neither the Virtusa deal done, the closing is at least 6 months away, and for us also the delisting process is still underway. So it’s not even a matter of discussion at this point of time.”
On the business front, Srikrishna said, “The quarter result that we announced was good. It was good for the industry and ours was the best and there was a reflection of the fact that tech spending will take priority; budgets are still under constraint in the current year, but dollars will go to tech spending and that will continue to drive the fact that the result will be better than expected through the rest of this year for the industry and it’s not just a trend for this year, it’s a big trend for the medium-term.”
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