07 Oct 07 Birlasoft Limited IPO : Birlasoft IPO likely next year
Birlasoft Limited which is the Information Technology division of the prestigious C.K. Birla group is planning an IPO next year. Birlasoft IPO is likely to hit the markets in mid 2008 as per statements made by a senior Birlasoft executive. General Electric has a stake in Birlasoft Limited, which intially was similar to being a captive Birlasoft Limited outsourcing unit. However, Birlasoft Limited now also works with various other clients and the share of GE’s contribution to Birlasoft Limited’s revenue has decreased considerably to less than 50%. This figure is likely to come down to around 35% according to a Birlasoft Limited senior executive.
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