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Virtusa reviews India IPO plans that could value it at $7 billion
The EQT-owned IT services firm has already tapped Citigroup, Morgan Stanley, and JPMorgan for the planned India listing targeted for 2027, and is adding local banks to manage the domestic process.
Virtusa Corp, the information technology services provider owned by EQT AB, is in talks with Indian investment banks for an initial public offering in India that could value the company at $7 billion, or more.
According to LiveMint Markets, the company has already hired Citigroup Inc, Morgan Stanley, and JPMorgan Chase & Co for the proposed IPO, and is now seeking additional domestic banks to strengthen its placement capabilities and local market relationships.
LiveMint Markets said the IPO preparations are accelerating for a share sale targeted for 2027, with discussions kept private among the banks involved.
One person with direct knowledge of the matter told LiveMint Markets the company wants local banking relationships to navigate domestic markets.