SAIF expects 5x return from selling Intelligroup
Hyderabad-based IT firm Intelligroup, 37% and 26% invested by SAIF Partners and Venture Tech (an investment vehicle of The Institute for Learning and Brain Sciences of the Washington University in the US), will be sold 100% to NTT Data Corporation, the leading Japanese IT firm, for $199 million.
Industry sources estimated that those two investors will make approximately 5x return from their investment. The two firms put $15 million in 2004 and then made follow-up investments of $10 million in...
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