Vivek Seal

New Delhi: The Los Gatos, California-based call centre operator, 24/7 Customer, intends to go for US initial public offering (IPO) in “6 to 8 quarters from now”, its top official said.

The details of the offering were not disclosed citing regulatory issues.

“We intend to go public in 2009-2010 with a US listing… between 6 to 8 quarters from now,” 247’s chief infrastructurerisk officer Pradeep Narayanan told DNA Money.

The company,which started operations in 2000 and received $22 million financing from venture capital firm Sequoia Capital in 2003, said it expects to grow 50% organically in FY08, with most of the revenue coming from the banking financial services industry, retail and technology verticals.

Narayanan said 247 would increase its global workforce to 10,000 from the present 7,500 with major hiring from India, Philippines and Guatemala to cater to its growth plans.

After the listing, 247 Customer will join the ranks of EXL Service Holdings, WNS and Genpact to have done overseas listings. Genpact and WNS are listed on the New York Stock Exchange while EXL is listed on the Nasdaq.

Media reports in early 2007 suggested that 247 Customer was planning a possible $250 million public offering. However, at that time the company had denied them.

The company said it has already crossed the “topline of $100 million”, with 90% of revenue coming from the BPO operations, and rest from its KPO business, which is expected to grow “significantly”.

“We want to create an intellectual property … we are in process of registering a couple of patents (for KPO business) that will help us grow in that space,” Narayanan said.

The company said it does not immediately plan to open more centres in India.

Source : DNA