Genpact prices IPO below indicative range
Market volatility dampens demand for the Indian business process outsourcing company, resulting in a price of $14 per share.
India's largest business process outsourcing BPO firm, Genpact, raised $494 million after pricing its US initial public offering at $14, 12.5% off the bottom of the price range.
Genpact was at the mercy of an unpredictable stock market, as it priced in one of the most turbulent weeks that the US equity markets have experienced in the recent past. When the draft document was filed with the Securities and Exchange Commission SEC in mid-May, the Dow Jones Industrial Average was...
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