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Genpact IPO to raise $730.6 M through NYSE
By India Abroad News Service
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Wednesday, 18 July 2007, 19:30 IST
Mumbai: Genpact, an Indian BPO, registered its initial public offering of 35.3 million shares at an estimated price of $16 to $18 a share. According to a filing with U.S. Securities and Exchange Commission, Genpact would offer about 17.6 million shares in the listing on the NYSE, while other stockholders will offer the remaining shares.
Genpact hopes to raise about $600 million through its IPO to be listed in U.S. Its rivals WNS Holdings and EXL Service holdings have been trading there since last year. The company has informed that it would use the proceeds of the share sale to repay debt and for general corporate purposes, including potential acquisitions.