Baring Private Equity Asia offloads 8.4% stake in Hexaware Technologies

The shares were sold at around at Rs 448 apiece, helping Baring PE raise Rs 11.2 billion

Baring Private Equity Asia on Friday offloaded an 8.4 per cent stake in Hexaware Technologies as part of a plan to monetise its holdings in the midcap technology company. 

The Asia-focused PE firm, which held a 71.22 per cent stake in Hexaware prior to the share sale, offloaded 25 million shares through multiple block deals on the stock exchange platform. The shares were sold at around Rs 448 apiece, helping Baring PE raise Rs 11.20 billion. Citibank and Societe Generale were among investors that bought these shares, exchange data showed.

Baring PE, which has holdings in a clutch of other