Private equity firm Samara Capital is in talks to acquire troubled mid-market IT services firm 3i Infotech in a transaction pegged at an enterprise value of $140-150 million, according to two sources familiar with the development.
The deal has been triggered by lenders of 3i Infotech, which has been undergoing a debt restructuring scheme since 2016. After it defaulted on foreign currency convertible bonds (FCCBs). 3i Infotech’s share price slid 40% in the last one year to Rs 3.5 apiece at Thursday’s close. On the NSE from its 52- week high of Rs 5.9, giving the company a market capitalisation of about Rs 570 crore. The company was set up in 1993 as the back office of ICICI.
This post was created with our nice and easy submission form. Create your post!