Shares of India's largest BPO Genpact surged nearly 20 per cent over its issue price in its debut trade at the New York Stock Exchange (NYSE).

The scrip settled at 16.75 dollars, up 19.64 per cent over its issue price of 14 dollars a share, after touching an intra-day high of 17.10 dollars at the NYSE on Thursday.

Global consultancy Dealogic has termed the initial public offering of Genpact, a spin-off of General Electric Company, as the 11th biggest IPO in the US so far in 2007.

Genpact's market capitalisation stood around USD 3.6 billion at end of its debut trade while a total of 18.5 million shares of the company had changed hands at the exchange.

"We are very pleased to join the NYSE and look forward to a long and productive relationship with NYSE Euronext," Genpact CEO Pramod Bhasin said.

Genpact raised USD 494 million (about Rs 2,000 crore), through its IPO which was priced at USD 14 per share, below the proposed price band of USD 16-18 for the issue of 35.3 million shares. A pricing at the top-end could have taken the total proceeds to USD 731 million.

Of the total 35,294,118 common shares sold in the offering, half were sold by the company while the remaining shares were sold by certain shareholders, consisting of General Atlantic, Oak Hill Capital Partners and the General Electric Company.

"We welcome Genpact to our growing roster of NYSE-listed Business Process Outsourcing companies," NYSE Euronext CEO John A Thain said in a statement.

The NYSE looks forward to providing Genpact and its shareholders with the superior services, market quality and brand visibility that companies receive from listing on NYSE Euronext markets, Thain added.

Courtesy : Expressindia.com

AHMEDABAD now has a new health destination - the first health and wellness centre launched by the Manipal Education and Medical Group (MEMG) is a one-stop shop for medical and cosmetic consultancy. The 'Cure & Care' centre at Himalaya Mall on Drive-In Road combines retail operations in beauty and health care.

This centre has a team of medical professionals in general medicine, obstetrics and gynaecology, paediatrics, ophthalmology, dermatology, endocrinology, lab medicine and dentistry among others. The health section offers health checks ranging from diabetic care, HIV screening, immunisation, dietary and obesity counselling, baby care, hormonal management and sexual health advice. The cosmetology section offers services like cosmetic dermatology, dentistry and skin piercing.

Dr Ramdas Pai, chairman of the MEMG, said, "We envision a revolution in healthcare delivery in India by providing preventive monitoring with a focus on wellness."

The Manipal Cure & Care was formed in January this year and plans to extend its services in cities like Delhi, Mumbai, Bangalore, Pune and Hyderabad by the year end. The group plans to set up 50 wellness centres across the country in the next four years.

Courtesy : Expressindia.com

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