Oracle's plum offer tempts i-flex staff

Employees, managers and directors of i-flex Solutions were the first to take advantage of the revised open offer made by the parent company, Oracle Global (Mauritius), placing 394,428 lakh shares valued at Rs 83.66 crore to date.

R Ravishankar, N R K Raman, A Srinivasan, V Shankar, Joseph John, S Hariharan, Dilip Kulkarni, Deepak Ghaisas and V Senthil Kumar all key management personnel sold more than 25,000 shares each valued at over Rs 5.25 crore each.

Oracle Global (Mauritius) made an open offer of 16.63 million equity shares at Rs 1,486.35 a share including Rs 11.35 interest for the delay in the offer, and revised the offer to 28.39 million equity shares at Rs 2,100 (including interest of Rs 16). Total monetary value of the revised offer would be Rs 5961.9 crore.

R Ravishankar, CEO of the company, sold 50,000 shares worth Rs 10.50 crore between November 24 and December 12. N R K Raman - COO of India Operations sold 33,000 equity shares worth of Rs 6.93 crore on December 13.

A Srinivasan, vice-president, Latin America, and Deepak Ghaisas, CEO, India operations and CFO sold 30,000 equity shares each during the open offer.

V Shankar, executive vice-president (EVP) - prime sourcing, sold 29,575 shares worth Rs 6.21 crore, Joseph John - EVP - universal banking products, offloaded 28,100 shares amounting to Rs 5.90 crore and S Hariharan, senior vice-president - infrastructure services, sold 24,820 shares for Rs 5.21 crore on the BSE.

V Senthil Kumar (20,000 equity shares), Gratian Perez (15,500), Makarand Padalkar (12,050), Avadhut Ketkar (10,500), R Ramamurthy and Vijay Sharma (10,000 each), D V Shetty (9,533), Anand Phanse (8,000) and V Srinivasan (7,000), Atul Gupta, S Sundararajan, Swati Srinivasan and Thomas Mathew (5,000 each) are other senior managerial staff too offloaded their holdings.

Incidentally, all this was happening at a time when i-flex, according to sources, was said to be in talks to acquire the Asia-Pacific operations of Capco. Capco and i-flex, however, declined to comment. Sources said the deal size was "not very big".