MUMBAI May 31 Private equity giants Carlyle
Group LP and Blackstone Group LP as well as Indian
outsourcers L&T Infotech and Tech Mahindra Ltd are
lining up bids for Hewlett-Packard Co's $1 billion stake
in India's MphasiS Ltd, several sources involved in
the process said.
Buyout firms Advent International and Bain Capital LLC are
also in talks to bid for HP's 60.5 percent stake in MphasiS, an
IT services exporter, said the sources, who declined to be named
as details of a potential deal are not yet public.
Tech Mahindra and L&T Infotech, mid-range players in India's
$108 billion IT outsourcing industry, may team up with private
equity firms to make bids for the MphasiS stake, two of the
sources told Reuters.
MphasiS, which generates roughly half its revenue by
providing services to HP's clients, has a market value of $1.8
billion. Reports of a potential stake sale to private equity
firms emerged about a month ago.
HP, MphasiS, Carlyle, Blackstone, Advent, Bain, Tech
Mahindra and conglomerate Larsen & Toubro, which owns
L&T Infotech, all declined to comment.