Genpact got listed on the New York Stock Exchange (NYSE) on Aug. 2nd, under the symbol “G”. Genpact’s IPO of about 35.29 million shares was priced at $14.00 per share, against speculations of $16-$18 price share. It raised $494.11 million against the target of $565-635 million.

Half the shares were sold by Genpact's key shareholders--venture capitalists (VC) General Atlantic and Oak Hill Capital, and the erstwhile parent of Genpact, GE--while the remaining were fresh shares.

Genpact CEO Pramod Bhasin attributed the lower pricing of $14 per share to tough market conditions. He told journalists soon after the listing, “Given the very difficult market conditions of the recent past, our achievement has been outstanding.” 

Morgan Stanley, Citigroup, JP Morgan, Wachovia Securities, Merrill Lynch & Co., Bank of America Securities, Credit Suisse, Deutsche Bank Securities and UBS Investment Bank were underwriting the IPO. In connection with the offering, Genpact has granted to the underwriters an option to purchase up to an additional 5,294,118 shares to cover over-allotments.

While WNS Global Services is the only other Indian BPO company to be listed on the NYSE, several Indian IT companies have preceded Genpact--Patni (PTI), Satyam (SAY), Wipro (WIT) and WNS (WNS) being amongst them. Genpact’s listing will raise the number of Indian companies in NYSE to 12. [To see the NYSE-listed Indian companies (including IT and BPO), click here.]

WNS raised $224 million in an IPO priced at $20 per share when it got listed in the NYSE last July. It now has a market cap of $495.9 million.

Interestingly, all Asian IT and BPO companies listed on the NYSE are located in India. [To see all the NYSE-listed companies, click here.]

EXLService is another Indian BPO to be listed on an American stock exchange--though on the NASDAQ. It got listed in October 2006 and raised $67.5 million.