EXL Services valuation of $350-500m likely for stake sale

EXL Services has been on the block for some time now. And with news of big boy HCL Tech expressing interest to evaluate the acquisition of 50% stake in EXL Services, the issues seems to be picking up pace.

The BPO services provider is likely to have finalised valuations of USD 350-500 million for stake sale and will be accepting bids for the same by mid-April, CNBC-TV18's Kritika Saxena reports quoting sources familiar with the development.

It was earlier reported that large-scale investors like Oak Hill (holds 36.5%), BlackRock (holds 11.3%) and Vikram Talwar (the executive chairman in the company holding 2.8%) were looking at exiting EXL.

Sources say that the three investors are in the evaluation stage and are chalking out EXLS' valuations which are seen at USD 533 million. Such high valuation, sources say, is likely to be a concern for most investors.