Sequoia Capital has entered into a deal to sell its stake in back-office firm Firstsource Solutions Ltd. to the Khemkas for $40 million, an Economic Times report said quoting unidentified sources.
Sequoia held 9.17 percent stake in Firstsource as on March 31, 2007, the shareholding pattern on the BSE website showed.
Firstsource and Sequoia officials could not be immediately reached for comment.
Close to 2 percent of Sequoia's shares are under lock-in.
Promoter ICICI group holds 25 percent in the back-office firm, Aranda Investments Mauritius Pte Ltd. holds 21.63 percent and Metavante Investments Mauritius Ltd. has 20.18 percent.
The Chennai-based Khemkas are promoters of the NEPC Group.
Source ; NDTV Profit