New
Delhi: India''s largest BPO company Genpact plans to
float a 600 million dollar (around Rs2,500 crore) initial
public offer on the New York Stock Exchange. The initial
public offer will lead to existing shareholders selling
their holding and fresh shares being issued.
In
its filing, the company said all the existing shareholders
-- GE, Oak Hill and General Atlantic - would sell part
of their stakes in the company, which was initially a
captive centre for General Electric.
In
2004, Oak Hill and General Atlantic picked up 30 per cent
each in the company. Now they want to offload a part of
their holding.
The
company, however, did not give details of how much each
investor will sell and the fresh shares that will be on
offer.
The
company would use the proceeds of the offering to repay
debt, fund acquisitions, and for working capital expenses.
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