VCCircle

Private equity fund General Atlantic will be opportunistic as far as Patni Computer stake is concerned. The Economic Times quotes Abhay Havaldar, Managing Director of GA in Mumbai as saying: "We have been in Patni for five years. We are both buyers and sellers of Patni, depending on the price.”

Havaldar also told Business Standard in an interview: "We have no such plans to exit but as a financial investor we will consider it if the price is attractive." The "price" is the key word.

GA owns about 16.38 per cent stake in Patni, which is currently in news as private equity funds like Apax Partners and Cerebrus Capital are looking to buy stake in the company. The sellers include the two of the three Patni brothers - Ashok and Gajendra. While the elder brother Narendra wants to stay put with the company. According to reports, the price of a Patni share is being quoted at Rs 650-700 range, while the shares are currently traded in the Rs 500-550 range. From what Havaldar says, it's clear the buyers and sellers are yet to agree on the price.

To Up Investments

General Atlantic plans to invest in India at least 15-20 per cent of $1.5-2 billion it will invest globally this year. Its favourite areas continue to be outsourcing, communications & electronics, media & consumer, financial services, trade and logistics.

The firm has already invested $250 million this year, which includes $115 million in National Stock Exchange and $60 million in Kerala-based IBS Software. Its portfolio of 10 companies in India include Hexaware, Jubilant Organosys, Genpact and Patni Computer. GA has already exited broking firm Sharekhan and BPO eDaksh Services. The firm also announced the appointment of a second managing director in India - Ranjit V Pandit, the former chairman of McKinsey & Company in India. GA manages $15 billion globally.