Firstsource: Difference between revisions

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| logo = Firstsource Logo.png
| logo = Firstsource Logo.png
| logo_size =  
| logo_size =  
| type = [[Public company|Public]]<ref name="BS-PROFILE"/> {{BSE|532809}}<br />{{NSE|FSL}}
| type = [[Public company|Public]]<ref name="BS-PROFILE"/> <br />{{BSE|532809}}<br />{{NSE|FSL}}
| foundation = {{Start date and age|df=yes|2001}}
| foundation = {{Start date and age|df=yes|2001}}
| location = [[Mumbai]], [[Maharashtra]], India
| location = [[Mumbai]], [[Maharashtra]], India
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| industry = [[Business process management]]
| industry = [[Business process management]]
| services = [[Business process outsourcing]], [[knowledge process outsourcing]]
| services = [[Business process outsourcing]], [[knowledge process outsourcing]]
| revenue = {{INRConvert|38263|M|year=2020|to=USD}}<ref name=ar>{{cite report|title=Annual Report 2018-19 |url=https://www.firstsource.com/wp-content/uploads/2019/07/Firstsource-AR-2018-19-_Final.pdf#page=99|publisher=Firstsource.com}}</ref>{{rp|97}}
| revenue = {{INRConvert|50780|M|year=2021|to=USD}}<ref name=ar>{{cite report|title=Annual Report 2020-21 |url=https://www.firstsource.com/Firstsource_AnnualReport_2020-21/mobile|publisher=Firstsource.com}}</ref>{{rp|8}}
| net_income = {{INRConvert|4777.77|M|year=2020|to=USD}}<ref name=ar/>{{rp|97}}
| net_income = {{INRConvert|4979|M|year=2021|to=USD}}<ref name=ar/>{{rp|8}}
| parent = [[RPSG Group|RP-Sanjiv Goenka Group]]
| parent = [[RPSG Group|RP-Sanjiv Goenka Group]]
| homepage = {{url|firstsource.com}}
| homepage = {{url|firstsource.com}}
}}
}}


'''Firstsource Solutions Limited''' is an [[India]]n business process management company headquartered in [[Mumbai]], [[India]]. It is owned by [[RPSG Group|RP-Sanjiv Goenka Group]].<ref name=sr/> Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource hosts operations in India, US, UK, and the Philippines.
'''Firstsource Solutions Limited''' is an Indian [[business process management]] company headquartered in [[Mumbai]], [[India]]. It is owned by [[RPSG Group|RP-Sanjiv Goenka Group]].<ref name="sr">{{cite web |title=Firstsource Investor Relations - Share Information |url=https://www.firstsource.com/investor-relations/ |publisher=Firstsource.com}}</ref>
 
Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource hosts operations in India, US, UK, and the Philippines.  
 
The company is listed on the [[Bombay Stock Exchange|Bombay]] (BSE) and [[National Stock Exchange of India]] (NSE) since 2007. In 2021 Firstsource generated revenues of INR 50.8 Billion (US$670 million).<ref>{{Cite web |title=Firstsource Solutions Annual Report 2020-21 |url=https://www.firstsource.com/Firstsource_AnnualReport_2020-21/mobile/index.html |access-date=2022-03-17 |website=www.firstsource.com |language=en}}</ref>


== History ==
== History ==
Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation. Its name was changed to Firstsource Solutions Limited in 2006 and in 2007 became a public company listed on the Indian Stock Exchange.{{citation needed|date=August 2019}} In 2002, the company acquired Customer Asset.com with its two subsidiaries and Tawny Dove Ltd. One year later they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. In 2005, they acquired RevIT to expand their services into the healthcare sector. In 2006 they opened a branch office in the Philippines.<ref name=":0" />  
Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation.<ref name=":0">{{Cite news |title=Firstsource Solutions Ltd. |work=Business Standard India |url=https://www.business-standard.com/company/firstsour-solu-24882/information/company-history |access-date=2021-09-01}}</ref> Its name was changed to Firstsource Solutions Limited in 2006.<ref>{{Cite news|title=ICICI OneSource is now Firstsource|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/ites/icici-onesource-is-now-firstsource/articleshow/544517.cms?from=mdr|access-date=2021-11-29}}</ref> The same year, Firstsource opened a branch office in the Philippines.<ref name=":0" /> In 2007, it became a public company listed on the Indian Stock Exchange.<ref>{{Cite web|title=Firstsource Solutions IPO Review - Firstsource Solutions IPO Dates, Issue Price, Subscription and Allotment Status|url=https://economictimes.indiatimes.com/firstsource-solutions-ltd/ipos/companyid-99.cms|access-date=2021-11-29|website=The Economic Times}}</ref>
 
=== Acquisitions ===
In 2002, the company acquired Customer Asset.com with its two subsidiaries and Tawny Dove Ltd. One year later they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. In 2005, they acquired RevIT to expand their services into the healthcare sector.<ref name=":0" /> One year later, in December 2006, they acquired Business Process Management Inc (BPM) with the aim to enhance the company capabilities in the healthcare sector.<ref name=":0" /> In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group.<ref>{{Cite news|title=Firstsource Solutions transitioning from being a BPO player to a platform player: Sanjiv Goenka|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/expert-view/firstsource-solutions-transitioning-from-being-a-bpo-player-to-a-platform-player-sanjiv-goenka/articleshow/87625117.cms?from=mdr|access-date=2021-11-29}}</ref><ref>{{Cite web|title=Firstsource Solutions' step-down subsidiary Sourcepoint to acquire US-led The StoneHill Group|url=https://www.indiainfoline.com/article/news-top-story/firstsource-solutions-step-down-subsidiary-sourcepoint-to-acquire-us-led-the-stonehill-group-121111100576_1.html|access-date=2021-11-29|website=www.indiainfoline.com|language=en}}</ref>


===Public offer===
===Public offer===
Firstsource made a public offer in February 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on February 22, 2007. Major shareholders in Firstsource include CESC Ventures Limited (53.96%), ICICI Bank Limited (4.85%), Rakesh Jhunjhunwala (3.25%), Steinberg India Emerging Opportunities Fund Limited (1.44%), HDFC Small Cap Fund (5.33%), Mutual Funds (5.65%), foreign institutional investors (9.01%) and the remaining 16.51% is held by the public.<ref name=sr>{{cite web|title=Firstsource Investor Relations - Share Information|url=https://www.firstsource.com/investor-relations/|publisher=Firstsource.com}}</ref>
Firstsource made a public offer in February 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on February 22, 2007.  
 
== Corporate affairs ==


== Structure ==
=== Organizational structure ===
The RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary.<ref name=sr/> Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019.<ref>{{cite web|title=ISGN Rebrands as Sourcepoint|url=https://nationalmortgageprofessional.com/news/70182/isgn-rebrands-sourcepoint|publisher=NationalMortgageProfessional.com}}</ref> As of March 2018, Firstsource had 15 subsidiaries and 1 associate company. Their 37 global operation centers are located across India, US, UK, and Philippines. The company provides services mostly to clients in United States and the United Kingdom.<ref name=":0">{{Cite news|title=Firstsource Solutions Ltd.|work=Business Standard India|url=https://www.business-standard.com/company/firstsour-solu-24882/information/company-history|access-date=2021-09-01}}</ref>  
Their 37 global operation centers are located across India, US, UK, and Philippines. The company provides services mostly to clients in United States and the United Kingdom.<ref name=":02">{{Cite news |title=Firstsource Solutions Ltd. |work=Business Standard India |url=https://www.business-standard.com/company/firstsour-solu-24882/information/company-history |access-date=2021-09-01}}</ref>
 
=== Management and leadership structure ===
Firstsource is managed by a leadership team with 11 members. Vipul Khanna serves as the Managing Director and Chief Executive Officer. The Board of Directors is led by Chairman Sanjiv Goenka.<ref>{{Cite web |title=Firstsource Leadership Team {{!}} Board of Directors & Senior Leadership |url=https://www.firstsource.com/leadership |access-date=2022-03-17 |website=Firstsource |language=en-US}}</ref>
 
=== Group Structure ===
The RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary.<ref name="sr" /> Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019.<ref>{{cite web|title=ISGN Rebrands as Sourcepoint|url=https://nationalmortgageprofessional.com/news/70182/isgn-rebrands-sourcepoint|publisher=NationalMortgageProfessional.com}}</ref> As of March 2018, Firstsource had 15 subsidiaries and 1 associate company.  
 
=== Shareholder structure ===
Major shareholders in Firstsource include CESC Ventures Limited (53.96%), ICICI Bank Limited (4.85%), Rakesh Jhunjhunwala (3.25%), Steinberg India Emerging Opportunities Fund Limited (1.44%), HDFC Small Cap Fund (5.33%), Mutual Funds (5.65%), foreign institutional investors (9.01%) and the remaining 16.51% is held by the public.<ref name="sr2">{{cite web |title=Firstsource Investor Relations - Share Information |url=https://www.firstsource.com/investor-relations/ |publisher=Firstsource.com}}</ref>
 
== Products and services ==
Firstsource is a [[business process management]] (BPM) company and offers their services in the Banking and Financial, Healthcare, Communication, Media and Technology and Diverse Industries.<ref>{{Cite web |title=Firstsource Solutions Company Profile: Acquisition & Investors {{!}} PitchBook |url=https://pitchbook.com/profiles/company/10454-59 |access-date=2022-03-17 |website=pitchbook.com |language=en}}</ref> Service sectors include Contact and Service Centers, Platform Automation and Analytics and other Business Technology Services.
 
== Awards and recognitions ==
 
* 2022: [[Bloomberg L.P.|Bloomberg]] Gender Equality Index<ref>{{Cite web |title=Bloomberg - Gender Equality Index |url=https://www.bloomberg.com/gei/resources/ |access-date=2022-03-17 |website=www.bloomberg.com}}</ref>


== See also ==
== See also ==
{{div col|colwidth=30em}}
{{div col|colwidth=30em}}
* [[3i Infotech]]
* [[3i Infotech]]
* [[Business process outsourcing]]
* [[Fortune India 500]]
* [[Fortune India 500]]
* [[Call Centers]]
* [[List of IT consulting firms]]
* [[Offshore outsourcing]]
* [[List of major IT consulting firms]]
{{div col end}}
{{div col end}}


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==External links==
==External links==
* {{official}}
* {{official}}
{{ICICI Group}}


[[Category:Business process outsourcing companies of India]]
[[Category:Business process outsourcing companies of India]]
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[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:RPSG Group]]

Latest revision as of 14:14, 14 April 2022


Firstsource Solutions Limited
IndustryBusiness process management
Founded2001; 24 years ago (2001)
HeadquartersMumbai, Maharashtra, India
Key people
ServicesBusiness process outsourcing, knowledge process outsourcing
Revenue₹50,780 million (US$580 million)[2]:8
₹4,979 million (US$57 million)[2]:8
Number of employees
27000+[3]
ParentRP-Sanjiv Goenka Group
Websitefirstsource.com

Firstsource Solutions Limited is an Indian business process management company headquartered in Mumbai, India. It is owned by RP-Sanjiv Goenka Group.[5]

Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource hosts operations in India, US, UK, and the Philippines.

The company is listed on the Bombay (BSE) and National Stock Exchange of India (NSE) since 2007. In 2021 Firstsource generated revenues of INR 50.8 Billion (US$670 million).[6]

History[edit]

Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation.[7] Its name was changed to Firstsource Solutions Limited in 2006.[8] The same year, Firstsource opened a branch office in the Philippines.[7] In 2007, it became a public company listed on the Indian Stock Exchange.[9]

Acquisitions[edit]

In 2002, the company acquired Customer Asset.com with its two subsidiaries and Tawny Dove Ltd. One year later they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. In 2005, they acquired RevIT to expand their services into the healthcare sector.[7] One year later, in December 2006, they acquired Business Process Management Inc (BPM) with the aim to enhance the company capabilities in the healthcare sector.[7] In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group.[10][11]

Public offer[edit]

Firstsource made a public offer in February 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on February 22, 2007.

Corporate affairs[edit]

Organizational structure[edit]

Their 37 global operation centers are located across India, US, UK, and Philippines. The company provides services mostly to clients in United States and the United Kingdom.[12]

Management and leadership structure[edit]

Firstsource is managed by a leadership team with 11 members. Vipul Khanna serves as the Managing Director and Chief Executive Officer. The Board of Directors is led by Chairman Sanjiv Goenka.[13]

Group Structure[edit]

The RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary.[5] Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019.[14] As of March 2018, Firstsource had 15 subsidiaries and 1 associate company.

Shareholder structure[edit]

Major shareholders in Firstsource include CESC Ventures Limited (53.96%), ICICI Bank Limited (4.85%), Rakesh Jhunjhunwala (3.25%), Steinberg India Emerging Opportunities Fund Limited (1.44%), HDFC Small Cap Fund (5.33%), Mutual Funds (5.65%), foreign institutional investors (9.01%) and the remaining 16.51% is held by the public.[15]

Products and services[edit]

Firstsource is a business process management (BPM) company and offers their services in the Banking and Financial, Healthcare, Communication, Media and Technology and Diverse Industries.[16] Service sectors include Contact and Service Centers, Platform Automation and Analytics and other Business Technology Services.

Awards and recognitions[edit]

See also[edit]

References[edit]

  1. ↑ "Firstsource Leadership". Firstsource.com.
  2. ↑ 2.0 2.1 Annual Report 2020-21 (Report). Firstsource.com.
  3. ↑ "Firstsource Investor Relations". Firstsource.com.
  4. ↑ "Firstsource Solutions Ltd. Summary". Business Standard. 9 September 2016. Retrieved 9 September 2016.
  5. ↑ 5.0 5.1 "Firstsource Investor Relations - Share Information". Firstsource.com.
  6. ↑ "Firstsource Solutions Annual Report 2020-21". www.firstsource.com. Retrieved 17 March 2022.
  7. ↑ 7.0 7.1 7.2 7.3 "Firstsource Solutions Ltd". Business Standard India. Retrieved 1 September 2021.
  8. ↑ "ICICI OneSource is now Firstsource". The Economic Times. Retrieved 29 November 2021.
  9. ↑ "Firstsource Solutions IPO Review - Firstsource Solutions IPO Dates, Issue Price, Subscription and Allotment Status". The Economic Times. Retrieved 29 November 2021.
  10. ↑ "Firstsource Solutions transitioning from being a BPO player to a platform player: Sanjiv Goenka". The Economic Times. Retrieved 29 November 2021.
  11. ↑ "Firstsource Solutions' step-down subsidiary Sourcepoint to acquire US-led The StoneHill Group". www.indiainfoline.com. Retrieved 29 November 2021.
  12. ↑ "Firstsource Solutions Ltd". Business Standard India. Retrieved 1 September 2021.
  13. ↑ "Firstsource Leadership Team | Board of Directors & Senior Leadership". Firstsource. Retrieved 17 March 2022.
  14. ↑ "ISGN Rebrands as Sourcepoint". NationalMortgageProfessional.com.
  15. ↑ "Firstsource Investor Relations - Share Information". Firstsource.com.
  16. ↑ "Firstsource Solutions Company Profile: Acquisition & Investors | PitchBook". pitchbook.com. Retrieved 17 March 2022.
  17. ↑ "Bloomberg - Gender Equality Index". www.bloomberg.com. Retrieved 17 March 2022.

External links[edit]

  • {{URL|example.com|optional display text}}
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