Thursday, September 09, 2010

Kale Consultants - Accelya Deal

The promoters have sold their 36% stake in Kale Consultants to Accelya at a price of 172 per share. The deal also ensures that Vipul Jain (co-promoter and CEO) continues in his role. As discussed in my previous post they could have got a higher price, especially with the restructuring (slump sale of their loss making logistics business to promoters)

The deal will trigger a mandatory open offer to acquire at least 20% of the company. It will be interesting to see what the open offer price is as that would determine the total upside to minority investors.


Anonymous said...

the sale price looks way too low. why would the promoters sell at such a low price?
I wonder if there would be a counter offer from some other bpo players...

RW said...

Nada! Not practical. with 36 percent share block with accelya (contractually signed to be sold by promoters to accelya) would be difficult for anyone else to come in and take control.

Lets wait and watch for the open offer price

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