India’s Essar Group is looking at selling its business process outsourcing arm Aegis after getting some offers from global private equity players, a daily newspaper reported on Thursday.
Bain Capital and Kohlberg Kravis Roberts & Co, among others, have been in discussions with the founding Ruia family and have made non-binding offers, the report cited a source as saying.
The Essar group has appointed Standard Chartered Bank as adviser to the possible sale.
An Aegis spokesperson told the newspaper that the company is looking at various equity raising options, but has nothing specific to announce at the moment.
Aegis was earlier looking to raise around USD 400 million from a US initial public offering.