India Inc in its fury to become big and developed, is going on a frenzy overseas buy-outs and acquisitions. Some of them are Power and Energy (Reliance Energy, Tata Power and Lanco eyeing after Global power company – Globeleq with a valuation of over $2 billion), in Healthcare – Ranbaxy and Cipla are eyeing for Merck’s generic business, expected to be valued at $5,2 billion, Tata Power eyeing coal in Indonesia which will cost about a billion dollar and Suzlon’s hunt for REpower which might cost about $1.3 billion.
Not to be left out, the IT, ITES and the Technology Service sector is also in the mad race to acquire more overseas holdings. Software and BPO company Hexaware Technologies plans to acquite a US IT Firm or a European one for as much as $40 million. This is done so Hexaware can expand its overseas operations. The BPO company also plans to increases it Indian staff to about 6,000 by adding another additional 1,000.
Another Indian BPO Giant, Genpact, is heating up for a US listing through an IPO offer to raise more than $600 million. Genpact is based off Gurgoan, Haryana (INDIA) and was previously a part of General Electric (GE). The IPO will be an offload of 15% equity and will be done through either NASDAQ or the New York Stock Exchange.
Another Delhi based BPO firm, Infovision is planning to invest domestically to a tune of about ~ $9.3 million, with a vision to top line to ~ $23 million during the next three year period. It will also induct more employees and target a total of 12,000 before the end of this financial year ending March, 2008.