The Hindu Business Line : First Carlyle to invest $17 m for 20 pc in Allsec

First Carlyle Venture Mauritius, a global private equity firm belonging to the Carlyle Group, plans to invest $17.1 million (Rs 78 crore) for a 20 per cent stake in the Chennai-based Allsec Technologies, a contact centre and third-party voice-based business process outsourcing provider.

Allsec has received a non-binding indicative proposal from First Carlyle for the latter subscribing to 30.21 lakh equity shares of the company of Rs 10 each at a price of Rs 260 per equity share amounting to Rs 78.56 crore ($17.1 million) by way of a preferential allotment, according to a press release issued by Allsec.

Further, as part of the investment it is also proposed that Allsec promoters, Mr A. Saravanan and Mr R. Jagadish, would be allotted 4,01,820 warrants each, and Carlyle would be allotted 1,60,728 warrants - each warrant issued to the promoters and Carlyle being convertible into one equity share of the company at the conversion price of Rs 260 per warrant.

Allsec is proposing to raise capital for acquisitions in the BPO space in the US, the UK, Australia and India and for expanding its delivery capabilities, says the release.

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