Patni gains 5 pc on stake sale buzz; company denies comment

However, when contacted the Patni spokesperson said, "The company doesn't comment on market speculation as a matter of company policy."

On the Bombay Stock Exchange, the stock surged nearly six per cent to touch a high of Rs 487.

Further, Carlyle Group spokesperson added,"We do not comment on the market speculations."

On the National Stock Exchange, the stock closed at Rs 483.55, up nearly five per cent.
According to the BSE website on the quarter ended September 30, The Patni brothers – Narendra, Ashok and Gajendra — and their families hold around 45.8 per cent stake.

According to the media reports, the PE consortium of Carlyle Group and Advent International are likely to  bid to acquire Patni Computer Systems, India's seventh largest IT services firm.

It is a two horse race for Patni now. The choice before the seller is to either go with a smaller company, iGate Corporation , which is backed by Apax Partners, or opt for a sale to the PE consortium, reports added.

The Carlyle Group is a global asset manager with more than USD 97.7 billion under management.

Advent International gives companies access not only to capital, but to the collective experience, resources and networks most international private equity firms.

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