Firstsource

From Bharatpedia, an open encyclopedia
Revision as of 20:33, 11 October 2021 by 89.241.33.89 (talk) (→‎References: Commenting out ref not in use, to fix cite error)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)


Firstsource Solutions Limited
IndustryBusiness process management
Founded2001; 24 years ago (2001)
HeadquartersMumbai, Maharashtra, India
Key people
ServicesBusiness process outsourcing, knowledge process outsourcing
Revenue₹38,263 million (US$440 million)[2]:97
₹4,777.77 million (US$55 million)[2]:97
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.

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] 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.[6]

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.[5]

Structure

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.[7] 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.[6]

See also

References

  1. ↑ "Firstsource Leadership". Firstsource.com.
  2. ↑ 2.0 2.1 Annual Report 2018-19 (PDF) (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 5.2 "Firstsource Investor Relations - Share Information". Firstsource.com.
  6. ↑ 6.0 6.1 "Firstsource Solutions Ltd". Business Standard India. Retrieved 1 September 2021.
  7. ↑ "ISGN Rebrands as Sourcepoint". NationalMortgageProfessional.com.

External links

  • {{URL|example.com|optional display text}}
Retrieved from "https://en.bharatpedia.org/w/index.php?title=Firstsource&oldid=202461"