India iGATE sets delisting price 410 rupees/share

MUMBAI, Dec 4 (Reuters) - India's iGATE Global Solutions IGAT.BO said on Tuesday the exit price for a buyout of shares from its minority shareholders has been fixed at 410 rupees ($10.4) per share.

The mid-sized firm said in October its U.S. parent iGATE Corp (IGTE.O: Quote, Profile, Research, Stock Buzz) intended to buy out minority shareholders, after which its shares would be delisted from the Indian exchanges.

The delisting offer opened on Nov. 26 and closed on Nov. 30 and a reverse bookbuilding process to determine the exit price arrived at 410 rupees a share, iGATE said in a statement.

iGATE shares closed at 395.20 rupees on Monday. ($1=39.4 rupees) (Reporting by Rina Chandran; Editing by Ranjit Gangadharan)