Zensar Tech zooms up over 4%
By
Research Desk
about 9 years ago
Zensar Technologies, the Harsh Goenka group company is in the limelight. The stock price, up almost 4% at Rs.872 levels is a reaction to the news which came in on Friday.
Marina Holdco, a company backed by Apax Partners, announced that it had bought 23.2% stake in Zensar Technologies. This stake was acquired from Electra Partners Mauritius, an existing minority shareholder. This stake was purchased for Rs.833 crore.
Electra Partners said inclusive of dividends and proceeds from the share sale, the deal will generate a return of 19 times on original cost over the 18 years of the investment; an internal rate of return of 18%.
The RPG group will continue to remain majority stake holder at 48%.