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.
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.
