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Home » Private Equity » Technology » Sequoia Capital Hikes Stake in eClerx Services |
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Sequoia Capital Hikes Stake in eClerx Services
by Jarna Gandhi | March 09,2010 - 06:06 PM
Topics : Private Equity
Industries : Technology
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Sequoia Capital India has picked up an additional 2.9% stake in eClerx Services Limited through open market transaction for Rs 29.7cr at Rs 539.39 per share, taking its stake in the company to 9.7%.
Sequoia has made this investment through its sub-account Nambe Investment Holdings. In August 2009, Sequoia had bought 6.8% stake in eClerx for Rs 43cr at Rs 330 per share through the same sub-account. Transaction Reference: VCcircle
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Transaction Note Sequoia Capital India was formed by the merger of Sequoia Capital and WestBridge Capital Partners in 2006. The fund has around $1.8bn under management. It has a number of investments in India including First Source Solutions and Global Logic which are in the outsourcing sector. In all, it has invested in more than 40 Indian companies
This is Sequoia's second deal in 3 days. On March 5, dealcurry had reported that Sequoia Capital would be participating in the a Series C funding in July Systems led by Intel Capital.
The VC firm may also acquire 9.4% stake in CARE for $16.15mn.
Eclerx is a KPO that provides data analytics and process outsourcing services. The company reported a net profit of Rs 21cr for quarter ending 2009. |
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| Date | Type | Sub Type | Buyer | Size |
| eClerx Services - Sequoia Capital India (II) |
| 09/03/10 |
Private Equity |
Capital Market Transaction |
Nambe Investment Holdings (Sequoia Capital) |
6.53 |
| eClerx Services - Sequoia Capital India |
| 12/08/09 |
Private Equity |
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Sequoia Capital India |
8.90 |
| eClerx Services - IPO |
| 01/12/07 |
IPO / Offerings |
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22.41 |
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| Company |
| Name | Promoters | Office | Competitor | Website |
| eClerx Services Limited |
Vijay Mundhra & Family |
Sonawalla Building,
1st Floor, 29 Bank Street,
Fort,
Mumbai-400023
Maharshtra |
Aditya Birla Minacs Worldwide Limited
Quatrro BPO Solutions Private Limited
Hinduja Global Solutions Limited |
www.eclerx.com |
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Sequoia Capital | eClerx Services | Nambe Investment Holdings
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| Latest DealCurry Notes |
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Symphony Service Acquires US Based CoreObjects Software
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September 09, 2010, 04:05 PM | Deeshesh Chheda
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Bangalore-based Symphony Service Corporation has acquired CoreObjects Software Inc, a Los Angeles-based new product development services provider, that specialises in bringing commercially deployable products to market.
With CoreObjects’ engineering delivery centers in Bangalore and Pune, India and its team of highly skilled full-time product engineers and deep vertical market expertise, Symphony Services will expand its offerings in the product development and embedded product development space.
This acquisition also provides Symphony Services access to additional re-usable components and frameworks for product development, including CoreObjects' Smart Objects suite of software assets designed to speed clients' products to market.
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