Intelenet Global Services, a business process outsourcing company owned by US-based Blackstone Group, has won market regulator Securities and Exchange Board of India's approval for buying the remaining stake in Sparsh BPO Services.
Mumbai-based Intelenet may come out with an offer in the next 10 days to acquire the residual 12 per cent stake in Sparsh from one of the founders, Kapil Puri, sources said.
This will pave the way for Kapil Puri to expand Spanco Telesystems, the business process outsourcing and telecommunication services company that he set up after partly exiting Sparsh.
Puri is slated to receive around Rs 35 crore (Rs 350 million) from the sale of his stake, which will take place at around Rs 200 per share. This includes a premium as against the existing ruling price of Rs 150 per share.
At present, Kapil Puri