KKR offers ₹3,100 crore to purchase Siddhartha’s stake in IT firm Mindtree

Private equity firm KKR and Co. has offered ₹3,100 crore to buy the stake held by Café Coffee Day (CCD) founder V.G. Siddhartha and his two firms in information technology (IT) services firm Mindtree Ltd, said two people directly aware of the development.

The latest offer, proposed at a meeting on Thursday, makes KKR the highest bidder for the 20.4% stake held by Siddhartha and his two affiliate firms in Mindtree, the two people said, requesting anonymity.

KKR’s latest offer is not only higher than what it had proposed to pay earlier, but the private equity firm also softened its original terms to gain sole control of Mindtree.