Genpact eyes buys, informs SEC

Even as the market buzz of Genpact being a strong contender for Citigroup's business process outsourcing (BPO) arm grows stronger, the Delhi-based firm has informed the Securities Exchange Commission (SEC) that it is "actively considering a number of acquisitions".

In a revised regulatory filing to the SEC, the company stated: "At present, we are actively considering a number of acquisitions, one or more of which, if consummated, would be material." Genpact said that to enter new industries and strengthen its global presence and scale of operations the company is looking at strategic acquisitions.

Citigroup has reportedly shortlisted three bidders "" Firstsource, WNS and Genpact "" for its business process outsourcing (BPO) unit after the first round of bidding.

The sale of the BPO business, run by Citigroup Global Services (formerly e-Serve), is expected to fetch around Rs 3,200 crore for the group.

At this price, it will be the largest deal in the domestic BPO space. The largest major deal in the BPO space so far was when Blackstone recently bought Intelenet from Barclays and HDFC for Rs 840 crore.

Genpact has, however, added: "We are not the only potential buyer for these assets. We cannot give any assurance as to whether any such transaction would be completed or as to the price, terms or timetable on which we may do so. "