MUMBAI, MAY 9:
Nasdaq-listed iGATE has completed its open offer to acquire an additional 20 per cent stake in Patni Computer Systems.
iGATE now has 81.29 per cent stake in the Mumbai-based IT outsourcing company
The $1.24-billion transaction, which was backed by buyout giant Apax Partners, is one of the largest inorganic deals in India this year.
Of the 3.43 crore valid shares tendered under the offer, 2.7 crore shares were accepted at Rs 503.5 a share, according to details available on the BSE. The Patni scrip was up 0.72 per cent to close at Rs 394 on the BSE today.
Keywords: iGATE, Patni Computers, open offer
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