Tuesday, June 21, 2011

BPO business, Spanco in talks with PE investors for BPO business

BPO business:

Telecommunications and business services SPANCO Ltd is in talks to attract private capital investments in its BPO business and expects a deal within the next six months, an official told Reuters on Monday.

"We will bring in a private equity investor and provide an exit through an IPO in three years," said Kaustubh Dhavse, vice president of strategy.

This investment is part of the Rs 500 crore-flow of funds approved by the board of the company in March.

The firm, whose BPO business reported revenues of RS 210 crore, expects business to double in FY12 as it expands its operations in Africa and India, Dhavse said.

After his recent foray into power distribution, said Dhavse SPANCO expansion plans in the business and add three or four distribution franchises in the next 16-18 months.

The company expects the business to grow to Rs 2,500 crore for FY14 from the projection of R 540-600 crore in FY12, he added.
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