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Hinduja Global Solutions announces Rs 150 dividend; shares hit 20% lower circuit

New Delhi, Jan 7 (IANS) Hinduja Global Solutions, the Hinduja Groups business process entity, has declared the third interim dividend of Rs 150 per share for FY22.

Accordingly, it will be paid to the investors on or before January 27, 2022, it said in a regulatory filing.

Also, Hinduja Global Solutions has approved the sale of its healthcare services business to wholly owned subsidiaries of Betaine BV, which is owned by funds affiliated with Baring Private Equity Asia, it said in another regulatory filing on Thursday.

"Effective January 6, 2022, the HS Business and relevant subsidiaries stand sold/ transferred to Investor. The transaction was based on an enterprise value of $1,200 million subject to closing adjustments and resulted in inflows of $1,088 million," the filing read.

As part of the divestment, Hinduja has transferred all client contracts and assets, including infrastructure related to the healthcare services business, to the new buyer.

Over 29,000 employees from HGS across four geographies – the US, India, Jamaica, and the Philippines – will join the new organisation, effective January 6.

On Friday, shares of Hinduja Global hit the 20 per cent lower circuit. The shares of the company settled at Rs 2,856.65, down 20 per cent.

Analysts say that the investors were disappointed with a lower than expected dividend, however, the disinvestment is expected to grow its business in other verticals such as telecom, BFSI and media, among others.