GOING PLACES

New Delhi, April 8 (pti): genpact is planning a us listing through an initial public offer to raise over $600 million.

The Gurgaon-based bpo company, previously part of the us-based global industrial conglomerate, general electric (ge), is planning to offload about 15 per cent equity through a public float on either Nasdaq or the New York stock exchange (NYSE) later this year, merchant banking sources said.

The company’s major shareholders — ge and us-based private equity firms oakhill capital and general atlantic — are likely to sell part of their holding through this ipo, which could value the company at around $4 billion.

Genpact has appointed three us-based investment banks — morgan stanley, jpmorgan and citigroup — for the ipo and it may file the regulatory prospectus in the next few weeks, to be followed with a listing later this year, sources said.

The bankers said Genpact’s us listing could be followed by a number of other bpo firms seeking to list their shares on the us or uk bourses to tap the growing investor interest in the outsourcing segment.

Xchanging, a London-based bpo, has already announced plans to raise $300 million through an ipo at the London Stock Exchange, while New York-based Sutherland Global Services, which has more than half of its 18,000-strong workforce in India, is also eyeing a us listing for about $250 million in the next few months.

The ipo of Sutherland, whose annual revenue is about $300 million, could value the firm at around $2 billion , bankers said, adding the company is in the process of finalising its investment bankers.