ChrysCap-backed Infogain begins talks to offload controlling stake
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Synopsis
The Infogain stake sale process includes the issue of new shares and the sale of stake by some existing investors, including ChrysCapital, at a valuation of $500-600 million.
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Mumbai:Infogain Corp, the Silicon Valley-based digital platform and software engineering services firm backed by ChrysCapital, has begun preliminary talks with private equity funds and strategic investors to sell a controlling stake in the company at a valuation of $500-600 million (Rs 3,650-4,380 crore).
The transaction being discussed includes the issue of new shares and the sale of stake by some existing investors, said people in the know. ChrysCapital, a home-grown private equity fund, is expected to sell its majority stake. In 2015, ChrysCapital had invested $63 million to pick the stake in the California-headquartered Infogain.