Vivek Seal

New Delhi: Gurgaon-based call centre operator, InfoVision, is looking to raise around Rs 100 crore by selling a equity stake to a private equity investors or a “strategically fit” company to fund its domestic and international growth plans, its top official said. It expects the deal to happen by early July.

Aditya Gupta, president, Info-Vision Group, told DNA Money, “We are looking to raise around Rs 50-100 crore to fund our expansion plans in the country and are in talks to sell an equity stake to a strategic investor or a private equity.”

However, Gupta did not reveal company names of the interested parties due to Non Discloure Agreements.

Recent media reports suggested that outsourcing firms such as the NYSE-listed Genpact, and Nasdaq-listed EXL Services were in talks with Gupta to acquire a majority stake in InfoVision.

However, he did not comment on the issue.

Genpact chief executive Pramod Bhasin was “non committal” on the issue at this time, but said they are looking for an acquisition in the country to target the domestic market.

“We are looking for an acquisition to get into the Indian domestic market. The deal will happen in 2008,” Bhasin said.

Industry experts believe many Indian US-centric firms are looking to start their domestic operations with an inorganic growth strategy.

InfoVision said it expects to clock revenue of Rs 240 crore in 2008-09 with 70% growth on the topline,which is lower than their earlier expectations of 85%-90%.

The domestic BPO sector is increasingly becoming lucrative for international players to counter the sluggishness in the US market. The telecom, banking, insurance financial services are the favorite verticals for the domestic operators in India.

Source : DNA