Close on the heels of its decision to buy out Nasdaq-listed Kanbay, which operates mostly out of India, leading global IT and outsourcing services firm Cap Gemini SA is mulling to raise up to 500 million euros through share sale for funding further acquisitions.
Cap Gemini, with 61,000 staffs operating out of more than 30 countries, believes India and the workforce available here, are a vital part for its growth story.
"Yes, indeed. India constitutes a major portion of our future expansion policy and with the acquisition of Kanbay the country would hold 16 per cent of total headcount of the company," Cap Gemini spokesperson Christe Lerouge told PTI.
The firm is planning to raise up to 500 million Euro and would issue up to 10.36 million new shares with an option to increase the offer by 10 per cent, a company statement said.
The Paris-based company is raising funds for the purpose of rebuilding the groups' room for manoeuvre and participate to possible future industry consolidation, it said.
However, the company spokesperson declined to comment when asked about the potential acquisition targets of the firm and their plans for India.
The subscription price for the new issue would be determined between December 6-8 after the order-book building, it said.
The issuance of new shares is led by Lazard-Natixis and Morgan Stanley acting as Global Coordinators, lead managers and joint bookrunners.
Recently, Europe's largest IT consultancy, Cap Gemini and IT services company Kanbay got the final go-ahead from the US Antitrust Authorities and the former has started buying shares in Kanbay and held 14.7 per cent stake on November 21.
