Nasdaq listing on WNS radar

WNS Global Services, India's leading third-party BPO company, mulls to join the global league of IT majors by planning to list itself on the Nasdaq.

The company has valued itself at around $1.2 billion, placing it among other major IT majors such as Tata Consultancy Services (TCS), Wipro and Infosys Technologies.

"The plans for global listing were on for sometime. WNS will announce the Nasdaq listing plans in the next 10-15 days," industry sources told Business Standard here today.

The company is also believed to have appointed an advisor for the overseas listing.

When contacted, WNS officials neither confirmed nor denied the development.

"Based on corporate policy, we do not comment on this subject. WNS has an outstanding track record of communicating with its stakeholders, both internal and external. This practice will be maintained in the future as well," said Neeraj Bhargava, chief executive officer, WNS Group.

Global investment major, Warburg Pincus holds around 65 per cent stake in the company and 20 per cent stake is held by British Airways (BA), while the remaining stake is held by the promoters.

Warburg Pincus is seeking to exit from the venture and the company would be offloading its stake either fully or partially during the listing. BA and the promoters would also be looking at disposing of the stake, but this could not be confirmed.

WNS is India's largest third-party BPO company in terms of revenue. It employs over 9,000 professionals, and functions in verticals such as travel, insurance, financial and knowledge services among others.