NASSCOM SPL: Hexaware chief scoffs at rumours

By : |February 11, 2009 0

MUMBAI, INDIA: Hexaware Technologies founder and executive chairman Atul Nishar has scoffed at rumours that the promoters and equity share holders of the the IT and process outsourcing services company have resorted to sell off their share holding in the company.

The rumours gained ground after the shares of Hexaware gained after early round of trading at the Bombay Stock Exchange. The company shares had gone up by over 73 per cent today to Rs 34.85 at the Bombay Stock Exchange, giving rise to the speculations.

“Neither me nor any of Hexaware equity partners have sold shares,” he said emphatically while interacting with reporters on the sidelines of the NILF here today.

“Nor are we planning to do that. I just talked to equity partners and everyone on the board and they have informed me that nothing of this sort has happened.”

When asked as to why then the company shares have risen so sharply, the CEO attributed it to the strong fundamentals of the company, which, according to him, was attracting buyers even in these times.

“Our business model is strong and robust and adds to that the fact that we have been posting growth over the last previous years,” said Atul Nishar.

The promoters have 23.5 per cent holding in Hexaware.

He added that to sort out any apprehensions, investment bankers need to find the details of the transactions and get them to public.

“We have started this company and we will continue to serve our customers with the same dedication as we had been doing in the last few years,” he said.

Atul added the Hexaware share value in the recent past didn’t actually reflect the value of Hexaware.

For more NASSCOM Special stories click here

No Comments so fars

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.