The company is said to be in the process of mandating an investment bank for the stake sale. Tessolve said it’s not engaged in fund-raising talks. Two years after its last capital round, majority shareholder Hero Electronix is looking to generate $120-150 million (Rs 1,000-1,260 crore), said the people cited above, pegging Tessolve’s value at $400-450 million (Rs 3,300-3,800 crore).
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