IndusView - Volume 2 Issue 6 | July 2006

The non-GE Genpact The former GE back office unit wants to reduce revenues from its parent. How it manages that will decide the timing of its float
Gurgaon-based Genpact, India’s biggest business process outsourcing company, has a problem: it needs to reduce dependence on power-to-plastics conglomerate General Electric, its parent until November 2004, for its revenues. Only then will investors accord it the valuation it seeks when it will go public. With the Fairfield, Connecticut-headquartered GE by far the single largest client Genpact has, potential investors are scared stiff. “For me, the most important metric [in a float] will be how much of Genpact’s business comes from outside GE,” says Rishi Sahai, director of IndusView, a cross-border advisory firm. “If there are no other clients, GE will be able to squeeze Genpact down to a cost-plus pricing model.”

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IndusView News
Client Wins & Execution
	IndusView, now in its sixth month of commercial operation, has established relationships with leading global brands. In some cases, it has secured deals amid competition from long established consulting firms and investment banks for major corporate transactions and consulting projects. Bundeep Singh Rangar, Rishi Sahai, and Manish Gupta have successfully managed to turn their extensive global network into client wins and deal flow for the company. These include: Experian International, $ 2.5 billion U.K-based Information solutions provider to organizations and consumers, Mobissimo, a U.S. based online travel search engine that simultaneously searches 157 different travel sites in 30 countries and five continents, Affinity Express Inc., a U.S. based outsourced graphic services provider, Ticonderoga Capital, a later stage private equity firm with over $200 million of capital under management, among others.
New Appointments
	The IndusView’s team is growing and we would like to welcome our new members on-board: Akshun Gulati has a Certification in Financial Markets (NCFM) from the National Stock Exchange in Securities Market Module and has held the Graduate Aptitude Test in Engineering (GATE) scharship. He holds a B.Tech and M.Tech graduate in Biochemical Engineering from India's premier engineering institution, Indian Institute of Technology (IIT) Delhi. Sumita Nag’s most recent assignment was as a Financial Analyst with a U.S. and India based BPO company which provides financial solutions and data processing services to U.S. based Variable Annuity, Mutual Funds and Mortgage companies. She holds a MBA from New Delhi Institute of Management.
Press Coverage
	IndusView’s initiative to drive entrepreneurs and blue chip companies to the shores of India continues to attract attention in the media. The company, its senior management, and the investors have been profiled in leading publications, such as, Business Today, The Economic Times, The Financial Express, Business Standard, Families in Business, among others.
	Press coverage can be seen at: http://www.indusview.com/perspectives.html
	Red Herring – June 2006

	European entrepreneurs and Indian VCs plan $150-million fund to target Subcontinent While link-ups between venture capitalists in Silicon Valley and India are making headlines, a group of European entrepreneurs and investors has been quietly teaming with high-profile Indian venture capitalists to raise a Europe-India fund. Red Herring has learned that the fund, called Amaya Venture, will allocate 51 percent of its funding to Indian companies in the telecommunications, media, and technology sectors, and invest the rest in healthcare, automotive, retail, and finance. One-third of the money will be disbursed to early-stage companies, with the remaining two-thirds going to growth companies. Read More
	The Economic Times – June 6, 2006
	Pvt equity new craze in India, Inc. Private equity offers them a complimentary asset class as a way of managing wealth,” says Rishi Sahai, principal, Infinity. Internationally, tech companies like Intel, Nokia, Seimens, and Cisco, among others, have had VC funds. But these were more strategic in nature, and used as a part of a long-term growth strategy. Read More
	Business Today – May 7, 2006

	The Financial Express – April 1, 2006
	The non-GE Genpact The former GE back office unit wants to reduce revenues from its parent. How it manages that will decide the timing of its float Gurgaon-based Genpact, India’s biggest business process outsourcing company, has a problem: it needs to reduce dependence on power-to-plastics conglomerate General Electric, its parent until November 2004, for its revenues. Only then will investors accord it the valuation it seeks when it will go public. With the Fairfield, Connecticut-headquartered GE by far the single largest client Genpact has, potential investors are scared stiff. “For me, the most important metric [in a float] will be how much of Genpact’s business comes from outside GE,” says Rishi Sahai, director of IndusView, a cross-border advisory firm. “If there are no other clients, GE will be able to squeeze Genpact down to a cost-plus pricing model.” Read More
	The Economic Times – January 17, 2006
	eBay's founder to invest in India Danish entrepreneur Morton Lund, who has invested in over 50 firms and made millions from the sale of Skype to eBay, is on the prowl in India. He is in talks with a newly-formed private equity fund, and is reported to have said: “There is a 400% chance that the next Skype will be from India.” Read More
	The Economic Times – January 13, 2006
	*The Contrarian* On a lookout for new investment destinations, Lund is bullish on India. “It’s a fantastic opportunity going forward, and things are happening at a very fast pace. “The first big things have happened. We are early movers and our timing is perfect,” says Lund. He is partnering with IndusView, a crossborder transaction advisory firm, to look for the next big thing out of India. He is also looking at direct investments in the internet, wireless and the telecom space. “There are 400 per cent more chances of the next Skype coming out of India,” he says. Read More
	Business Standard – December 16, 2005
	Skype Investor Backs IndusView I only believe in people. It’s only because of the people with IndusView. Some very smart words came out of their mouths. I never invested in anything but people. Read More