Intelenet Global Services Private Limited (“Intelenet”) has issued a public announcement published on January 12, 2011 with reference to the delisting of the equity shares of its subsidiary Sparsh BPO Services Ltd (“Sparsh BPO” or the “Company”).
The objective of Intelenet in making the delisting offer is to obtain full ownership of Sparsh BPO, which will provide Intelenet with increased operational flexibility to support Sparsh BPO’s business and meet the needs of its customers. Many Clients in India want their operations run by Intelenet instead of Sparsh which conflicts with our current structure and is detrimental to ‘Shareholder Value’.
It is an appropriate time for the delisting of Sparsh, the Indicative Price of Rs 80 is at a premium to the Floor Price of Rs 68.60 giving the Public Shareholders an exit opportunity”.
The Bid Period, during which Public Shareholders can tender their shares to Intelenet will commence on January 31, 2011 and close on February 4, 2011.
Intelenet and SKR BPO Services Private Limited, the holding company for Intelenet, together hold 74.94% in Sparsh BPO, which is listed on the BSE.
