The stock tanked 18.67 per cent to Rs 270 on the BSE.
As per the outsourcing partnership agreement, Firstsource would manage Barclays' operations center in Colorado Springs and would provide customer care and collection support to its US cardholders, Firstsource Solutions said in a filing to the Bombay Stock Exchange.
The deal, which values Firstsource at Rs 800 crore (Rs 8 billion), would give Goenka a foothold in the information technology sector.
The BPO's board will meet on Friday to finalise deal.
ICICI bank, one of the investors, has been trying to reduce its stake for long, as it has to bring it below 5 per cent on directives of the US Federal Reserve.
Firstsource will provide a suite of BPO services covering both voice and back-office in areas such as customer accounting, VAS provisioning, fraud and credit monitoring, the company said on Wednesday. The company will also set up centres in Vashi and Chennai for Airtel and expects to have over 1,000 employees in the first year focussed on providing services in English and eight other regional languages to Airtel's customers.
Firstsource Solutions (formerly ICICI OneSource), a business process outsourcing company, on Thursday acquired BPM - a Delaware-based healthcare claims' outsourcing company.
ICICI Bank is understood to have deferred the sale of its holding in Firstsource Solutions, a Mumbai-based pure-play business process outsourcing entity. The bank along with its subsidiaries owns close to 27 per cent stake in the BPO firm.
Mumbai-based Firstsource Solutions, a pure-play business process outsourcing provider, has acquired US-based MedAssist Holding for $330 million (Rs 1,353 crore).
Mutual funds were predominantly buyers in the banking, engineering, power, IT, and media space in February
Unlike last year when private equity participants exited through strategic deals with third party investors, this year PEs are opting to exit via initial public offerings route.
Jhunjhunwala holds a stake in more than 30 listed firms.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
Jhunjhunwala increases stake in DHFL, luggage maker VIP Industries and pharma major Lupin but is cautious on auto holding. At the end of the March quarter, Jhunjhunwala held positions in 29 firms.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Johnson will be only the second British leader since Indian independence to attend the annual Republic Day parade in New Delhi as Guest of Honour, after former prime minister John Major in 1993.
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Group is planning to reduce its dependence on power generation business by expanding in other areas
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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