Hexaware Technologies - A good opportunity to exit - Kotak

The promoters of Hexaware and General Atlantic Partners have entered into an agreement to sell a cumulative 41.8% stake in the company to Barings Asia for Rs. 126-135. To comply with the SEBI takeover code, Barings will launch an open offer of 26% of Hexaware's equity. We believe the price offered by Barings is attractive and recommend that investors subscribe to the open offer/sell-out in the open market (depending on tax efficiency). We retain our REDUCE rating.

Source : Equity Bulls

Keywords