General Atlantic on Monday partly exited from its investments in Patni Computer Systems after it sold 4.06m equity shares in the Indian software services major to foreign institutional investors for Rs 423 a share, in a deal valued at Rs 172 crore.
The buyers included Japans Normura India Investment Fund and Sloane Robinson of Mauritius. Foreign institutional investors, so far, own about 13.1% equity stake in Patni Computer Systems. The General Atlantic deal which represents about 3% of Patnis equity share capital, comes for the first time, after the Connecticut -based pvt equity firm invested about $100m in Patni in 02, for an undisclosed equity stake.
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