Executive chairman Vikram Talwar is likely to sell off his stake in EXL Service Holdings (EXLS) along with private equity firms Oak Hill and BlackRock, reports CNBC-TV18 quoting sources.
Talwar holds 2.8% stake in the company while Oak Hill and BlackRock hold 36.5% and 11.3% stake respectively. Sources say Talwar and Oak Hill are likely to appoint separate bankers for the stake sale. The two will begin talks with strategic investors soon. The EXLS board may mull a stake sale plan once the bankers get appointed. The company provides outsourcing and transformation services. EXL's outsourcing services include a full spectrum of business process outsourcing services from offshore delivery centers requiring ongoing process management skills. It has 12 delivery centres across the globe. The firm reported a revenue of USD 187 million between January-September 2010. EXLS, when contacted, said it will not comment on market speculation inline with the company policy.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
