J.Sagar Associates (JSA) advised Conneqt Business Solutions Limited (Acquirer) along with Quess Corp Limited (PAC) in its acquisition of a controlling stake in Allsec Technologies Limited from Mr. Ramamoorthy Jagadish and Mr. Adiseshan Saravanan (Promoters) and First Carlyle Ventures Mauritius (Carlyle).
The transaction is valued at approximately Rs. 271 crores and will be followed by an open offer for an additional 26 pc stake in Allsec.
Allsec is an Indian company with subsidiaries in USA and Philippines which provides business process solutions across various industry verticals.
The Acquirer will buy majority of the Promoters shares and Carlyle’s shares followed by a mandatory open offer for 26 per cent shares.
JSA team comprised Partners – Vikram Raghani, Raj Ramachandran and Anand Lakra; Principal Associate – Rakki K; Senior Associates – Sindhu Nayak and Abhilash Chandran, Associates – Ami Shah and Khamir Kamdar.