ICICI OneSource now Firstsource Solutions

By : |November 27, 2006 0

MUMBAI: ICICI OneSource Ltd has announced that the company is renaming itself as Firstsource Solutions Ltd.

The company also announced that it had filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) as a precursor to its planned listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 

When ICICI OneSource was set up in 2002, the ICICI Group was its only shareholder. Today global investors such as Metavante Corp., Aranda Investments (Mauritius) Pte Ltd., an affiliate of Temasek Holdings and Westbridge Capital Partners, now managed by Sequoia Capital India, hold significant stakes in the company.

While ICICI Group continues to be the single largest shareholder group, its holding in the company today is at less than 50 per cent. It is therefore appropriate that the company now establishes a new brand identity of its own.

The company has over the last four years grown significantly in scale and capabilities, with a CAGR of 74.4 per cent in revenues over the past two fiscal years and has built a customer base of over 60 customers including 13 Fortune 500 and FTSE 100 companies.

It is among India’s top 3 pure play BPO companies with over 9,000 employees and 17 delivery centers across India, US, UK and Argentina and a center under development in Philippines.

© CyberMedia News

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