Barings India investment has tendered its entire stake comprising 5.60 million shares in the company in favor of the open offer made by the US/EDS.

This has made it to make an exodus from the city-based Mphasis BFL.

The holding would bring Barings Rs.114.52crore for its stake at the offer price of Rs.204.5.

Barings possessed a 34.79% stake in the company followed by 4.25% of Investek Maritius according to the stock market data.

Mr. Jaithirth Rao, CMD of Mphasis BFL, had reportedly surrendered 18.75 lakh shares or 29.36% of his holding in the company to the acquirers. Mr. Rao had a 3.97% stake in Mphasis BFL as of March 31, 2006.