Genpact's US listing tomorrow

NEW YORK: India's largest BPO Genpact is all set to make its debut tomorrow on the New York Stock Exchange, which will take the total number of Indian companies listed in the US to 16 with a total market capitalisation of more than $120 billion.

Genpact, which is seeking to raise up to $731 million through an initial public offer, would join two other Indian BPOs on the US bourses -- WNS on the NYSE and EXLService on the Nasdaq. The three BPO firms would command a cumulative market capitalisation of more than five billion dollars.

It would follow the listing of Sterlite Industries on the NYSE in June, while other Indian companies listed on the exchange are Wipro, Satyam Computer, VSNL, Tata Motors, ICICI Bank, HDFC Bank, Dr Reddy's Labs, MTNL and Patni Computers.

Besides, companies like Infosys, Rediff.com and Sify are listed on the Nasdaq, another major bourse in the US.

The total market cap of all the 15 Indian companies listed in the US is around $117.6 trillion and Genpact would take the total close to $121.6 trillion.

Genpact, formerly part of US-based global conglomerate General Electric, has fixed the price band for IPO of 40.6 million equity shares at $16-18 each.

A pricing of the shares to be offered to the public at the higher end of the estimated band would give the company an initial market capitalisation of close to four billion dollars. It had a revenue of $613 million and net income of $40 million for the year ended December 31, 2006.

So far, Infosys is the biggest of all US-listed Indian firms with a market cap of $28.3 billion, followed by $21.2 billion of Wipro, over $20 billion of ICICI Bank and $11.2 billion of Sterlite Industries.