<p>The Aditya Birla Group today sold its Canada-based business and technology outsourcing arm, Aditya Birla Minacs Worldwide, to private equity investors, marking the exit from the IT sector.<br /><br /></p>.<p>According to sources, the main investor is a group led by Capital Square Partners and Ajay Relan-led CS Partners, and the deal size was about Rs 1,600 crore.<br /><br />In a late night filing to the BSE, Aditya Birla Nuvo, the holding company, said, "The Board at a meeting held today cleared the sale of equity shares held directly and indirectly by company (ABNL IT & ITES, a wholly-owned subsidiary of ABNL) in Aditya Birla Minacs Worldwide and its underlying subsidiaries engaged in IT & ITES business."<br /><br />Sources said the Singapore-based Capital Square Partners is the main investor. The PE fund is led by Samrat Ganguly as managing partner.<br /><br />Minacs employs 21,000 people spanning 35 locations worldwide, and according to Nasscom is the sixth largest BPO firm in the country.<br /></p>
<p>The Aditya Birla Group today sold its Canada-based business and technology outsourcing arm, Aditya Birla Minacs Worldwide, to private equity investors, marking the exit from the IT sector.<br /><br /></p>.<p>According to sources, the main investor is a group led by Capital Square Partners and Ajay Relan-led CS Partners, and the deal size was about Rs 1,600 crore.<br /><br />In a late night filing to the BSE, Aditya Birla Nuvo, the holding company, said, "The Board at a meeting held today cleared the sale of equity shares held directly and indirectly by company (ABNL IT & ITES, a wholly-owned subsidiary of ABNL) in Aditya Birla Minacs Worldwide and its underlying subsidiaries engaged in IT & ITES business."<br /><br />Sources said the Singapore-based Capital Square Partners is the main investor. The PE fund is led by Samrat Ganguly as managing partner.<br /><br />Minacs employs 21,000 people spanning 35 locations worldwide, and according to Nasscom is the sixth largest BPO firm in the country.<br /></p>