Aegis, the business process outsourcing (BPO) services arm of Essar Group, has revived discussions about its intention to go for an initial public offer. The plan was stalled earlier due to poor market conditions. While the company is internally discussing the plans, it has not yet set a timeline for the same, Aegis's global CEO Sandip Sen told Business Standard .
"We are 100 per cent owned by the Essar group and it certainly makes sense for them to monetise...Though we have not arrived at any kind of solution as of now, but in the near future, we could do that,” Sen said. “As of now, we have internally discussed it, but we have not reached a conclusion as to when to go for it,” he said.
Sen added that the IPO is being considered to unlock promoter’s value, as well as fund future expansion.
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“The last time we wanted to go to the market was about a year back, but the market conditions were such that we thought it was not the best time probably. We would want to do the IPO when the market conditions are right. So the delay had nothing to do with the company, it was due to external reasons,” Sen said.
While the company continues its focus on organic growth, Sen said, Aegis is also open for tapping the inorganic means of expansion, and is scouting for a buy-out in either a near-shore geography to the US or in Asia Pacific region. Though the company is not yet close to signing any deals, it is ready to take the plunge if it finds a right fit.
“We are organically expanding even as we speak, but in addition to that, in case there are companies that make sense and give strategic value to Aegis, we are always open at look at acquiring,” Sen said. “We have done acquisitions in the past, and we will not be averse to an acquisition if it is strategic to us and it helps us in our growth,” he added.
Besides the geographical preference, Aegis is keen on acquiring a company that helps it acquire a domain. “It will be a combination of domain and geography,” Sen said.