You are here » Home » Companies » Company Overview » Firstsource Solutions Ltd

Firstsource Solutions Ltd.

BSE: 532809 Sector: IT
NSE: FSL ISIN Code: INE684F01012
BSE 00:00 | 19 Oct 59.90 -2.25
(-3.62%)
OPEN

61.70

HIGH

62.10

LOW

59.50

NSE 00:00 | 19 Oct 59.85 -2.30
(-3.70%)
OPEN

61.20

HIGH

62.05

LOW

59.50

OPEN 61.70
PREVIOUS CLOSE 62.15
VOLUME 666951
52-Week high 83.85
52-Week low 36.00
P/E 21.94
Mkt Cap.(Rs cr) 4,137
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 61.70
CLOSE 62.15
VOLUME 666951
52-Week high 83.85
52-Week low 36.00
P/E 21.94
Mkt Cap.(Rs cr) 4,137
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Firstsource Solutions Ltd. (FSL) - Company History

Firstsource Solutions Ltd is a leading provider of offshore BPO services to clients primarily in the BFSI, telecommunications and media and healthcare industries. The company provides BPO services mostly to clients in United States and the United Kingdom. The company have grown to be among India's top ranked BPO companies. They provides a comprehensive range of services to all the clients.The company was incorporated as ICICI Infotech Upstream Ltd on December 6, 2001 and was promoted by ICICI Bank Ltd. In April 2, 2002, the name was changed to ICICI OneSource Ltd. In April 2002, the company acquired Customer Asset.com with its two subsidiaries to accelerate the entry into the BPO business. Also they acquired Tawny Dove Ltd in the same year. In the year 2003, they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. The company had 11 Subsidiaries (Including domestic and International):- Domestic subsidiaries:1.Rev IT System priviate Limited (Wholly Owned Subsidiary of the company)2.Anuta Tech Infrastructure Services Limited (WOS Of the company)International Subsidiaries:1.Firstsource Solution UK Limited, UK (WOS of the Company)2.Firstsource Solution S.A., Argentina (Subsidiary of firstsource solution UK limited).3.Firstsource USA, Inc.,USA (WOS of the company)4.Firstsource Business Process Services, LLC, USA (WOS of firstsource Group USA,Inc.)5.Firstsource Advantage LLC, USA (WOS of Firstsource Busienss Process Services)6.Twin Lakes Property, LLC (subsidiary of firstsource advantage LLC)7.MedAssist Holding, Inc USA (WOS of Firstsource group USA,Inc)8.Firstsource solutions USA, LLC USA (WOS of Medassist Holding Inc.)9.firstsource Transaction services, LLC, (WOS of firstsource solution USA,LLc)10 Firstsource BPO Ireland Limited ( WOS of the company)11 Firstsource Dialog Solutions (private )Ltd. (subsidiary of the company)The company acquired a majority stake in Pipal in the year 2004 to acquire research and analysis capabilities. Also in the same year, they acquired ASG in order to enter into the collections and receivables management market. In the year 2005, they acquired RevIT to enter into the healthcare industry and enhance the transaction processing capabilities. Also they acquired Business Process Management Inc (BPM) on December 29, 2006 to further enhance the company capabilities in the healthcare sector.During the year 2006, the company has set up Firstsource Solutions, S A through one of its subsidiary company Firstsource Solutions, UK. Also they opened a branch office in Philippines. In March 2006, the company entered into the strategic partnership with Metavante to provide an exclusive channel partnership with respect to certain BFSI services in North America.In November 21, 2006, the company got their present name Firstsource Solutions Ltd. The company won Offshoring Operations of the year and Financial Services Outsourcing Project of the year from National Outsourcing Association, UK in September 2005. Based on the annual rankings by NASSCOM, the company was the third largest Pure Play BPO provider. Firstsource was awarded second place in Healthcare category in the 8th Annual IQ Six Sigma Excellence Awards held at Florida in January 2007.In August 29, 2007, the company has entered into an agreement to acquire MedAssist Holding, Inc., a leading provider of revenue cycle management in the healthcare industry in the U.S. In February 2008, the company signed five-year partnership deal with Barclays U.S. Credit Card Business.In the year 2009, the company restructuring into four independent business verticals- Healthcare,Telecoms, Media, Banking, Financial Services & Insurance (BFSI) and Asia Business Unit (ABU) effective on March 2009.Firstsource,s awards cap is the ERE 2009 award as Recruitment Department of the year. Confeering this award at a ceremony in San Diego ,USA.In the year 2010, the company plan to expansion of operations to the Philippines offshore delivery location for a fortune 50 North American telecom carrier. The company enter into Australia by signing a contract with a Cable & Satelite TV Company. The company received awards winner of the UK Trade & Investment's (UKTI) Investor of the Year award at the UK- india Business Awards.In the year 2011, the company has been investing in new geographies by expanding business through new clients and it has recently entered in Australian.In the year 2012, the company entered into new geography area through Joint Venture with Dialog Axiata,Sri lanka. Started Operations in the Republic of Ireland. Firstsource signed total contract value worth USD 160 mn of new business in the year.