In August 2005, Oracle had acquired 41 per cent stake in i-flex from Citigroup Venture Capital International at Rs 800 a share and launched an open offer to buy an additional 20 per cent at Rs 882.62 per share.
Seeking to up its stake to 90 per cent, the company launched another open offer for shareholders to tender their shares at Rs 1,475 per share by December 23.
It has, however, revised the price to Rs 2,100 a share (including interest) and said it would not sweeten it further.
"There will not be another open offer or a revision in the price. This is the last and the best price Oracle can offer," Oracle's Senior Vice President (Corporate Development) Doughlas A Kehring told PTI.
The offer is the highest price paid by Oracle for shares of i-flex Solutions and assuming the offer is fully subscribed, Oracle would be shelling out a total of $1.3 billion for this round of buyout.
This would mean that the company would have invested $2.3 billion in the purchase of shares of i-flex Solutions and the largest direct foreign investment in a single company in India, Kehring said.
He, however, reiterated Oracle's commitment to the Asian sub-continent stating that there would not be a delisting of i-flex shares for at least the next five years unless they are trading at a significantly lower price than today.
