 "Hinduja Group")
Shares of Hinduja Global Solutions (HGS) crashed 20 per cent on Friday after the company hinted it may offer additional loans to the promoters after giving a Rs 500-crore loan to them.
The company had sold its health care business to Baring’s private equity fund in August last year for $1.2 billion (Rs 8,000 crore) and its shareholders were expecting a large dividend from the company. But its minority shareholders were left disappointed after the company announced on Thursday that it was offering only 150 per cent as special dividend to celebrate the deal, leading to a crash in
The company had sold its health care business to Baring’s private equity fund in August last year for $1.2 billion (Rs 8,000 crore) and its shareholders were expecting a large dividend from the company. But its minority shareholders were left disappointed after the company announced on Thursday that it was offering only 150 per cent as special dividend to celebrate the deal, leading to a crash in
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