March 30, 2011 / 9:40 AM / in 7 years

IGate open offer for Patni shares to start Apr 8

MUMBAI, March 30 (Reuters) - U.S.-listed software firm iGate’s open offer for 20.6 percent in India’s Patni Computer Systems will open on April 8 and close on April 27, the manager to the offer said in a statement to the stock exchange on Wednesday.

The open offer was earlier scheduled to start on March 4 but was delayed as approval from India’s markets regulator was pending.

iGate, backed by private-equity firm Apax Partners, acquired a majority stake in Patni for $1.2 billion in January, marking one of the largest deals in India’s technology sector. [ID:nSGE709010] (Reporting by Prashant Mehra; Editing by Aradhana Aravindan)

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