ChrysCap-backed Infogain begins talks to offload controlling stake
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Synopsis
The Infogain stake sale process includes the issue of new shares and the sale of stake by some existing investors, including ChrysCapital, at a valuation of $500-600 million.
Mumbai: Infogain Corp, the Silicon Valley-based digital platform and software engineering services firm backed by ChrysCapital, has begun preliminary talks with private equity funds and strategic investors to sell a controlling stake in the company at a valuation of $500-600 million (Rs 3,650-4,380 crore).
Credit Suisse has been mandated to run a formal process to find an investor. The process is expected to begin by mid-June.
An email sent to Infogain did not elicit any response till press time Thursday, while a ChrysCapital spokesperson declined to comment.
“The process is getting formally started. We are expecting preliminary offers to come in by mid-next month," said one of the people.
Kapil Nanda established Infogain in 1990, after working at Intel Corp. Infogain serves clients in the technology, healthcare, insurance, travel and retail industries using technologies such as cloud, microservices, IoT and AI.
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The transaction being discussed includes the issue of new shares and the sale of stake by some existing investors, said people in the know. ChrysCapital, a home-grown private equity fund, is expected to sell its majority stake. In 2015, ChrysCapital had invested $63 million to pick the stake in the California-headquartered Infogain.Elevate Your Tech Prowess with High-Value Skill Courses
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An email sent to Infogain did not elicit any response till press time Thursday, while a ChrysCapital spokesperson declined to comment.
“The process is getting formally started. We are expecting preliminary offers to come in by mid-next month," said one of the people.
Kapil Nanda established Infogain in 1990, after working at Intel Corp. Infogain serves clients in the technology, healthcare, insurance, travel and retail industries using technologies such as cloud, microservices, IoT and AI.
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