Firstsource Solutions IPO
Firstsource Solutions IPO — date, price band, lot size & details 2007
Firstsource Solutions listed on 22 Feb 2007 at ₹90.1, 40.8% above the ₹64 issue price.
Firstsource Solutions, promoted by ICICI Bank, is an offshore BPO company serving banking and financial services, telecom and media, and healthcare clients. Its income from services was Rs 5,487.48 million in FY2006.
Stock price
Firstsource Solutions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 29 Jan 2007
- Close 02 Feb 2007
- Allotment 15 Feb 2007
- Refund/credit TBA
- Listing 22 Feb 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Jan to 2 Feb, 2007 |
|---|---|
| Price Band | ₹54 – ₹64 |
| Face Value | ₹10 |
| Lot Size | 100 Shares |
| Issue Size | ₹443.52 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Sharepro Services Pvt.Ltd. |
| Min Investment | ₹ 6,400 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 100 shares at the ₹64 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 100 | ₹6,400 |
| Retail (max) | 31 | 3,100 | ₹1,98,400 |
| S-HNI (min) | 32 | 3,200 | ₹2,04,800 |
| S-HNI (max) | 156 | 15,600 | ₹9,98,400 |
| B-HNI (min) | 157 | 15,700 | ₹10,04,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01NASSCOM ranked it the fifth largest BPO provider in India by revenue in fiscal 2006.
- 02Income from services grew from Rs 745.97 million in FY2003 to Rs 5,487.48 million in FY2006.
- 03It grew from 21 clients in March 2004 to 74 clients in December 2006, including six Fortune Global 500 banks.
- 04It had over 9,100 seats across delivery centres in 7 Indian cities.
Risks · 5
- 01Return on net worth was low at 5.71%.
- 02It depended on a few large clients, such as six Fortune Global 500 banks, and on the rupee.
- 03Staff grew from 4,009 to 10,717 in under 3 years, which makes hiring and keeping people hard.
- 04Rs 59.52 crore of the Rs 443.52 crore issue went to the selling shareholder.
- 05ICICI's holding fell from 32.41% before the issue to 25.50% after it, so no promoter had control.
Three years of numbers
All figures in ₹ crore, as reported in the Firstsource Solutions offer document.
| Metric | 31 Dec 2006 | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|---|
| Total Income | 562.14 | 549.92 | 323.47 | 180.77 |
| Profit After Tax | 62.34 | 24.67 | 18.11 | 0.61 |
| NET Worth | 653.94 | 432.42 | 406.11 | 225.47 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Firstsource Solutions RHP.
Where the money goes
₹384.00 Cr of the issue is earmarked to named objects.
About the company
It provides offshore BPO services, mainly to clients in banking, financial services and insurance, telecommunications and media, and healthcare. NASSCOM ranked it the fifth largest BPO provider in India by revenue for fiscal 2006, and it was the third largest pure-play BPO provider.
It worked from export units in Bangalore, Mumbai, Chennai, Pondicherry, Trichy, Kolkata and New Delhi, with over 9,100 seats. It grew from 4,009 employees and 21 clients on 31 March 2004 to 10,717 employees and 74 clients on 31 December 2006.
The IPO was Rs 443.52 crore, with Rs 384.00 crore of fresh issue and Rs 59.52 crore of offer for sale, at Rs 64, the top of the Rs 54 to Rs 64 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
080-62745555
The bankers & the filings
Who is running the book, and the documents this page is built from.
Firstsource Solutions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Deutsche Equities India Pvt. Ltd
14 issues handledBest listing: Reliance Petroleum (+66.6%). Weakest: Adlabs Entertainment (-9.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Firstsource Solutions?
The current Grey Market Premium is ₹0.
What is the Firstsource Solutions IPO price band?
₹54 to ₹64, on a face value of ₹10.
When is the allotment?
The basis of allotment is 15 February 2007, with listing on 22 February 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Sharepro Services Pvt.Ltd..
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
