In the last two-three months, things have heated up in terms of who the potential buyers would be for VG Siddhartha’s stake. VG Siddhartha along with Cafe Coffee Day and other entities hold about 20.1 percent stake in Mindtree. And according to sources, things are likely to be finalised very soon.
The promoters – that is the founders of the company – are likely to meet the VG Siddhartha this week itself. The point here is that there has been a discord between the two wherein the founders are not open to selling their stake and they are obviously unhappy with a hostile takeover. So what they are trying to do is have reached some kind of a mid-ground with VG Siddhartha. Whether the founders will be selling a portion of their stake with VG Siddhartha remains a question and will be decided in the meeting.