Thursday, May 17, 2007

Indian BPO's want share in US markets;Genepact next in list

Genepact is harboring ambitions to upfold what could be the biggest Indian IPO in US markets and is speculated to be worth around $600 mn.

The listing in the New York bourse would make Genepact the third Indian BPO trading in US after WNS and EXL services listed on the NYSE and the Nasdaq respectvely.The proceeds from the share sale will be used to repay debt bligations and for realizing potential acquisitions, according to a filing with the US Securities and Exchange Commission.

Genpact will apply to have its common shares listed on the NYSE under the symbol “G”. The IPO will be managed by Morgan Stanley, Citigroup Inc. and JPMorgan Chase.

General Atlantic and Oak Hill Capital Partners hold 60 per cent of the company’s equity, while GE owns the remaining 40 per cent. All the three sareholders are diluting their stake through the proposed IPO, according to the SEC filing.

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