Allsec gets investment proposal from Carlyle

CHENNAI: Allsec

Technologies Ltd has received a non-binding indicative proposal from First

Carlyle Ventures Mauritius, a global private equity firm, for subscribing to

3,021,685 equity shares of the company of Rs 10 each at a price of Rs 260 per

equity share amounting to Rs 785,638,100.






Carlyle Asia Growth Partners III invests in promising and fast growing companies
across industry sectors at an expansionary stage with solid growth track records

in China, India, Japan and Korea. Carlyle Asia Growth Partners is the third fund

managed by Carlyle Asia Growth Capital group, which has aggregate committed

capital of US$ 1 billion.






Further, as part of the investment it is also proposed that A. Saravanan and R.
Jagadish, the promoters, would be allotted 401,820 warrants each cumulating to

803,640 warrants. Carlyle would be allotted 160,728 warrants, each warrant

issued to the promoters and Carlyle being convertible into one equity share of

the company at the conversion price of Rs 260 per Warrant.






The board of directors of Allsec met on Wednesday to consider the said proposal
for investment. There is no binding commitment by either party to consummate the

proposed investment.






Allsec is
proposing to raise capital for acquisitions in the BPO space in the USA, UK,

Australia and India and for expansion of its delivery capabilities.






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