Early Diwali for Polaris investors

BENGALURU: It's a pre-Diwali bonanza for investors who bought into Polaris Consulting & Services. They are raking in big moolah by offloading shares along with promoter block led by its founder Arun Jain.
Billionaire investor Rakesh Jhunjhunwala, who holds 4.9% in the Chennai-based IT services firm, is selling 50 lakh shares in the company for a consideration of Rs 110 crore.Jhunjhunwala, with a net worth of $1.9 billion, mostly has a roster of publicly-listed companies including Titan and Escorts in his portfolio. More recently, he bought 1.2 million shares or 1.1% stake in Jet Airways in a bulk deal.
Amit Goela, partner in Jhunjhunwala's asset management firm Rare Enterprises, is offloading 2 lakh shares for a consideration of Rs 4.4 crore.
Arun Sekhar Aran, who founded software firm NucSoft (formerly called Nucleus Software Workshop), will be offloading 4.4 lakh shares valued at Rs 9.7 crore.
Virtusa will acquire approximately 51.7% of the paid-up share capital of Polaris from certain promoter entities led by Jain and other shareholders, including OrbiTech Private (formerly known as OrbiTech Ltd) for Rs 220.7 per share.