Intelenet to delist Sparsh BPO; offer begins on Jan 31

MUMBAI: Sparsh BPO today said its parent firm Intelenet Global Services' will acquire the remaining 25 per cent public holding and the delisting offer will begin on January 31.

Intelenet and SKR BPO Services, the holding company for Intelenet, together hold 75 per cent in Sparsh BPO, which is listed on the Bombay Stock Exchange.

"Intelenet seeks to acquire 40.46 lakh shares or 25.06 per cent of the equity share capital of the company from the public shareholders and proposes the delisting of the equity shares of the company (Sparsh BPO) from the BSE," Sparsh BPO said in a regulatory filing to the BSE.

The delisting offer will open on January 31 and close on February 4, 2011, the filing added.

In October last year the board of Sparsh BPO had approved the proposal of promoters to delist the company from the stock exchange at a price of Rs 80 per share.

Of the 25.06 per cent public shareholding in Sparsh, 9.55 per cent is controlled by three large shareholders-- Kapil Puri, Kavita Puri and Shyam Telecom.

J M Financial Consultants is acting as the manager to the offer made by Intelenet Global.

Shares of Sparsh BPO closed at Rs 92.05, down 0.27 per cent on the BSE.