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iGate now holds roughly 82.5% stake in Patni computers. 63 per cent stake (46 per cent from Patni’s promoters and 17 per cent from General Atlantic) Open offer for garnering 20 per cent more at a price of Rs 503.5 a share. The $1.2-billion acquisition was funded by $770 million debt, $330 million by issuing convertible preferred stock to Apax Partners (firm with which it formed a consortium to make this acquisition) and using cash on hand.
85 $ 66.28.25 $ 1.043 AFTER ACQUISITION 503.INCREASE IN VALUE / GROWTH of Patni PARTICULARS MARKET PRICE REVENUE EARNING PER SHARE BEFORE ACQUISITION 463.567 ASSETS .849 10 PATNI – 16000 SKILLED IGATE – 6000 ODD $ 3.417 22 EMPLOYEES MORE THAN 26000 SKILLED & TRAINED $ 19.70.05.
FINANCIALS Revenues for the six months ending June 30.2 %.2 million $ 124.7 million in the corresponding period in 2010 Organic revenues grew 22. 2011 were $246.2 % to the total revenues . with acquisition adding 75.
to purchase an additional 20% stake in the company. $600-700 million were for Transaction Financing & $50 million of Revolving Credit Facility . the aggregate price of the shares was estimated to be around $301 million • iGate issued Equity to Apax Partners for around $270-480 million • Raised Debt of about $750 million from Jefferie & Company and RBC Capital Markets • Out of the total debt.Financing the Deal • Through the Open Offer.