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HomeUncategorizedHCL denies report of Nadar’s plans to sell $10 billion stake

HCL denies report of Nadar’s plans to sell $10 billion stake

HCL Corp, the holding company for HCL Technologies, denied a Wall Street Journal report that said its founder Shiv Nadar was seeking potential buyers for his $10 billion stake in the company.

“HCL Corporation denies any plans to exit HCL Technologies,” it said in a statement.

Billionaire Shiv Nadar owns a roughly 62 percent stake in HCL Technologies, India’s No. 4 IT services exporter, through group companies.

Nadar is yet to hire bankers to advise him on a sale, the report said, citing two people briefed on the matter.

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