Hexaware Technologies will raise Rs 300 crore from private equity investor General Atlantic to fund expansion plans.Hexaware will allot 10.57 million equity shares and 1.056 million optionally convertible preference shares to General Atlantic. Post-conversion, General Atlantic's stake in the company will be 14.99%.The deal has been done at Rs 142 a share, and values the company at $450 million."The preference shares would carry a coupon rate of 2.95% for the first 18 months. In case the conversion option is not exercised, the shares shall carry a coupon rate of 5% thereafter," an official statement said."We believe this partnership with General Atlantic will be a platform for Hexaware's global business development and take the company to the next level," Atul Nishar, executive chairman of Hexaware, said.
