Hexaware plans voluntary delisting, board to discuss proposal next week

Analysts see delisting as a move towards making the company leaner before any further step of a merger or complete

Mid-size information technology (IT) services firm Hexaware Technologies on Friday said that it is considering a proposal to delist its stock from the bourses which would be discussed during its board meeting next week.
 

The main objective of the proposal is to provide full ownership of the company to the promoter group which, in turn, will provide increased operational flexibility to support the business, the Mumbai-headquartered firm said in an exchange filing. "The delisting will also help in cost savings and allow the management to dedicate more time to and focus on the company's business," it said.
 

HT Global IT