The Indian equity growth story continues to attract cash-rich foreign investors with Carrier International Mauritius Ltd and Global Investment Ltd looking to buy over 45 lakh shares in domestic IT services firm Infotech Entreprises, for nearly Rs 162 crore.
The Hyderabad-based company, which operates in 25 global locations, is seeking shareholders' nod to allot a total of 44.96 lakh shares to Mauritius-based Carrier International and Cyprus-based Global Investment, an Infotech communique to the Bombay Stock Exchange said.
The share allotment is proposed to be in two tranches -- 27.24 lakh compulsorily convertible preference shares and issue of 17.72 lakh equity shares, it added.
The company is also looking to issue of 38.11 lakh shares as underlying equity shares for the issue of ADRs to the foreign entities, subject to shareholders' approval.
Carrier International already holds over 14 per cent stake and other foreign investors in the firm include Merrill Lynch Capital Markets (1.32%), DB Fund Mauritius (1.41%) and BSMA Ltd (4.14%).
Read more in The Economic Times article.
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