Telecom and IT services firm Spanco Ltd is in talks to bring in private equity investment in its BPO business and expects to close a deal in the next six months, an official told Reuters late on Monday.
“We will bring in a private equity investor and give an exit through an initial public offering in three years,” Kaustubh Dhavse, vice president, strategy, said.
This investment will be a part of the 5-billion-rupee influx of funds approved by the company's board in March.
The firm, whose BPO business clocked revenue of 2.1 billion rupees, expects the business to double in FY12 as it expands its operations in both Africa and India, Dhavse said.
Source: Economic Times