Leading BPO company plans to go for acquisitions

Kolkata, Jan 29: Firststone Solutions Limited, a leading BPO of the East, has decided to go for multiple acquisitions and expansion of services later this year at an estimated expenditure of more than Rs 500 crores.

Stating this and other major programmes of the Company which presently operated in more than 20 countries, including the U.K., the USA and Argentina, Firststone Vice-President and Head of its Foreign Operations Mathew Vallance here today said in order to pool the necessay funds for the acquisitions and expansion programme, the companmy had decided to enter the Capital Market with an initial public offering of 69.30 million equity shares of Rs ten each and with a price band of Rs 54 to Rs 64.

"The Company intends to use the new proceeds to make a number of acquisitons, set up new facilities, repay loans and for meeting other expenses for general purposes," Mr Vallance said but refused to elaborate on the issue further because of the SEBI guidelines.

UNI