The two parties did not share the deal size but said MavenHive's two founders and 40-odd team members have joined the Bansal-owned firm. MavenHive was started by Bhavin Javia and Anandha Krishnan in 2012.
This September, Sachin Bansal picked 94 per cent stake in microfinance company Chaitanya Rural Intermediation Development Services. His immediate plan is to scale up the company's operations as quickly as possible without making much investment in physical infrastructure and by leveraging technology.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
The proposals are mostly based on a report submitted by Justice B N Srikrishna in July 2018. The draft Bill has since gone through at least two updates based on inputs received from industry, report Yuvraj Malik and Peerzada Abrar.
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
'In India, the impact will be less than 1% of employee headcount.'
Among IT services firm, Cognizant witnessed over 60 per cent of its initial applications rejected, followed by Capgemini, Accenture, Wipro, and Infosys. In 2018, the top six Indian firms got just 16 per cent or 2,145 H1B work permits.
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes.
Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
Bansal has picked up a majority stake in Chaitanya Rural Intermediation Development Services, a company which runs microfinance institution Chaitanya India Fin Credit.
While the Saudi drone strike has put the focus back on anti-drone measures, caution also stems from the fact that India has a number of large oil refining assets close to India-Pakistan border.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
A complex holding structure and unrelated businesses clubbed under one roof could have been the reasons that prompted investors to shun the stock, experts say. These are likely to impact the company's ability to raise funds, too, they add.
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
In his second year at the helm, Infosys CEO & MD Salil Parekh looks optimistic about the company's growth prospects. With stability back in the industry, Parekh, in an interview with Bibhu Ranjan Mishra and Debasis Mohapatra, says turbulence is over and Infosys is on its way to regaining its old glory.
While the leadership change in Mindtree is yet to happen, there's a buzz that the co-founders of the IT firm may float another company.
'There's a lot of continuity in terms of basic values and there's also a lot of new thinking based on the generational shift... it's a combination of continuity and change,' says Wipro Chief Executive Officer Abidali Neemuchwala.
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