Mumbai: US-based private equity (PE) major General Atlantic plans to exit from IBS Software Services through its proposed initial public offering (IPO) in Nasdaq in 2015. According to people in the know, IBS Software is in talks with various bankers for the listing process.
IBS expects a valuation of $500 million during the public listing. The size of the IPO would be in the range of $150 million, sources said.
General Atlantic, which holds a significant minority stake in the Thiruvananthapuram-based information technology (IT) services company, had invested $60 million in the firm in 2007.
IBS Software Services provides IT solutions to the global TTL (travel, transportation and logistics) sector. It employs, about 2,000 people at nine offices in US, Europe, Asia-Pacifc, West Asia and Africa. Its customer list includes Nippon Airways, Austrian Airlines, London Heathrow Airport, BP, British Airways, Cathay Pacific, Chevron, China Eastern Airlines, IndiGo, Etihad Airways, Jet Airways, etc.
05/02/15 Reghu Balakrishnan/Business Standard
IBS expects a valuation of $500 million during the public listing. The size of the IPO would be in the range of $150 million, sources said.
General Atlantic, which holds a significant minority stake in the Thiruvananthapuram-based information technology (IT) services company, had invested $60 million in the firm in 2007.
IBS Software Services provides IT solutions to the global TTL (travel, transportation and logistics) sector. It employs, about 2,000 people at nine offices in US, Europe, Asia-Pacifc, West Asia and Africa. Its customer list includes Nippon Airways, Austrian Airlines, London Heathrow Airport, BP, British Airways, Cathay Pacific, Chevron, China Eastern Airlines, IndiGo, Etihad Airways, Jet Airways, etc.
05/02/15 Reghu Balakrishnan/Business Standard
No comments:
Post a Comment