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Business & Economy
BPO sector: Doors will soon open for small investors
What is India News Service, Saturday, 19 February 2005, 2100 hrs IST
It\92s one of India\92s fastest growing industries. And has delivered hefty returns to the private equity and venture capital gang. So far, however, the lack of listed BPOs has prevented ordinary domestic investors from owning a piece of the action.
This could change in \9205 as a number of BPOs are slated to hit the bourses. While Allsec Technologies and Paradyne Infotech have already filed offer documents with the Securities and Exchange Bureau of India (Sebi), industry insiders say many more are waiting in the wings.
Public issues from ICICI OneSource and Intelnet Global Services are in the pipeline, according to primary market database Prime Database.
Other BPOs and ITeS companies, too, are understood to be examining the option of primary market offerings, though they are yet to announce any plans. Third-party BPO Sutherland, for instance, is said to be weighing the IPO option.
Says Ashish Dhawan, senior MD, Chrys Capital, \93Six-seven BPO outfits could potentially go in for listing. BPOs with a capacity of 5,000 seats or so are well placed to go in for IPOs.\94
Merchant bankers agree. \93As industries mature, the IPO route becomes attractive for them. The BPO industry has reached a stage where IPOs make immense sense. We expect several BPOs to be listed during the year,\94 says a merchant banker.
\93We have already filed Allsec with Sebi. We are also working on the Exl Services float on the Nasdaq. There are several other BPOs waiting in the pipeline, but it is premature to talk about them,\94 says Avdhoot Deshpande, senior manager, investment banking, IL&FS.
Cell shock for BPO employees: Call centres have banned the use of mobile phones in work place to stop data leakage.
Tata Steel denies plans of listing in New York and London bousres: Tata Steel on Saturday said it has no immediate plans for listing in New York or London Stock Exchanges.
Budget should pave way for consolidation: Consolidation is a catalyst for greater efficiencies, competitiveness, growth and value creation, and often a key market entry strategy (read FDI).
Pak PM to visit Iran; Indo-Iran gas pipeline to figure in talks: Pakistan Prime Minister Shaukat Aziz would visit Iran next week apparently to finalise a deal on gas pipeline after India agreed to consider the project to secure supply of gas.
Japanese corporates keen on doing business with India: With Japanese corporates controlling much of the business in the ASEAN region, many companies from that country have evinced interest in doing business with India, Tadao Ogoshi, President Japanese Chamber of Commerce and Industry, Singapore (JCCI), said.
Kazakhstan releases $3m towards Ajanta dues: Relations between India and Kazakhstan emerged from the shadows of stuck payments.
Aiyar\92s last ditch move for specific duty regime: Differing significantly with the Lahiri advisory group recommendations on restructuring oil duties, the petroleum ministry has pitched hard for a shift to a specific excise duty regime from ad valorem, at least in the case of petrol and diesel in the forthcoming Budget.
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