India, March 20 -- The stake sale is said to be from founder and chairman Ashok Soota, who holds around 44% in the company. According to reports, the promoter holding is valued at around Rs 2,500 crore. Discussions are said to be at an early stage, with one of the Big Four firms conducting commercial due diligence, and a report expected to be shared with potential bidders in the coming weeks.

However, any potential transaction will depend on valuation negotiations and may take time to materialise. Neither the company nor the interested parties have officially confirmed the development.

The move comes amid expectations of consolidation in the mid-tier IT services space as companies navigate industry headwinds and explore strategic growth...