Published on Thu, Feb 16, 2012 at 16:47 | Source : CNBC-TV18
Updated at Thu, Feb 16, 2012 at 19:34
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Aegis plans $300-400m IPO
Aegis Ltd, the backoffice services firm of Essar Group, is planning to raise between USD 300 million and USD 400 million through an initial public offering, the company's global CEO said on Thursday.
Essar's BPO arm has reportedly been eyeing the capital markets. But speaking officially for the first time on its plans, the chief executive officer of Aegis said that it was talking to bankers to raise USD 300-400 million via IPO and private equity funding.
CNBC-TV18's Kritika Saxena caught up with Aparup Sengupta at the sidelines of the NASSCOM India forum.
Sengupta says, the overall ticket size could be between USD 300- 400 million and largely equity, very little debt.
Below is the edited transcript of his interview on CNBC-TV18. Also watch the accompanying video.
Q: Is there a timeline that you can share with us? When would you actually tap the IPO market?
A: No, there is nothing. We have yet not finalised whether we will do it or not. So, DRHP is a long shot. So, I would say that we are still in the conversation stage. We are looking at strategic as well PE investors also come-in into this whole cycle. And then once we get the sense as to what we need to do, maybe sometime middle of this year.
Q: As you know telecom companies have lost licenses and you have been working with some of them. Give us an idea about what is the exposure to these companies and what's the impact will be of license cancellation?
A: Our exposure is less than 1%. So, we have almost nothing. People whose license got cancelled either we are not servicing them or we are servicing very miniscule part volume of the volume for them.
