Carlyle Group is preparing to take one of its Indian businesses public, with a price tag that would make it one of the larger listings in the country this year.
According to Bloomberg, Carlyle has hired banks for a roughly $400 million initial public offering of its revenue cycle management business in India. Goldman Sachs is among the banks brought on to work on the deal.
Revenue cycle management businesses handle billing, payments, and related financial operations, often for healthcare clients. The sector has drawn growing investor interest in India as demand for outsourced financial services has expanded.
Carlyle is one of the world's largest private equity firms and has been active in India across multiple sectors. Taking a portfolio company public through a local listing is a common exit strategy for private equity firms, allowing them to realize gains on their investments while giving local investors access to shares.
The $400 million target would represent a significant transaction for the Indian IPO market. India's stock exchanges have seen strong listing activity in recent years, with both domestic and international companies using the market to raise capital. A deal at this size from a firm like Carlyle would draw attention from institutional investors both inside India and abroad.
Bloomberg reported the hiring of banks as the first concrete step toward the offering. Specific timing for the listing was not disclosed. The deal will depend on market conditions and regulatory approvals before shares can begin trading.
