Warburg Pincus and GA in talks to invest $200m in Aegis

According to sources, the new capital would allow Aegis to expand its operations and research and development capabilities.

The Essar unit is also said to be looking to raise $500-$600 million through an initial public offering in the US, although last month the company's CEO said it planned to raise just $300-$400 million via a listing in the US, the UK or India.

Aegis provides third-party business process outsourcing (BPO) services in 49 languages and across eight countries. It has 41 delivery centers, 18 of which are located across 11 cities in India. It was established as Essar Terminals in 1992, before being renamed as Aegis BPO Services in 2004 and simply ‘Aegis' four years later.

Parent company Essar is owned by Indian brothers Shashi and Ravi Ruia, who are among India's richest men. It also controls London-listed Essar Energy and acquired US mining asset Trinity Coal for $600 million in 2010. Trinity, which at the time claimed to be on the top ten coal producers in the US, is just one of a number of interests Essar holds in the fields of steel, ports and logistics.

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• Topics
• Expansion
• South Asia
• Support services
• Warburg Pincus Asia
• General Atlantic
• Growth capital
• Technology