Published on Tue, May 15, 2007 at 09:11 | Source : Moneycontrol.com
Updated at Tue, May 15, 2007 at 10:59
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Genpact to list on NYSE; to raise $600 mn
It was first WNS, then EXL and now Genpact. India's largest BPO with 28,000 people in 9 countries has filed for an initial public offering on the NYSE. And at USD 600 million, it will be India's biggest BPO listing overseas, reports CNBC-TV18.
It was first WNS, then EXL and now Genpact. India's largest BPO with 28,000 people in 9 countries has filed for an initial public offering on the NYSE. And at USD 600 million, it will be India's biggest BPO listing overseas, reports CNBC-TV18.
The New York Stock Exchange will soon have India's BPO industry pioneer walking through its doors. The erstwhile GE offshore arm Genpact will list on the NYSE, seeking to raise about USD 600 million. This will make it the third Indian BPO to list in New York after WNS and EXL last year.
GE, Oak Hill and General Atlantic, who hold 40%, 30% and 30% respectively, will all sell undisclosed parts of their stake and fresh equity will be issued as well.
Genpact depends on GE for 74% of its revenues, which stood at USD 613 million last year with profits of USD 39 million.
WNS and EXL's market capitals hover around 4.5 to 5 times their revenues. By that measure, Genpact could easily touch the USD 3 billion mark. Definitely an opportunity lost for Indian bourses!
It was first WNS, then EXL and now Genpact. India's largest BPO with 28,000 people in 9 countries has filed for an initial public offering on the NYSE. And at USD 600 million, it will be India's biggest BPO listing overseas, reports CNBC-TV18. 
