Standard Chartered, Credit Suisse and Singapore's DBS Group have agreed to buy a one-third stake in an Indian outsourcing firm InterGlobe Technology Quotient for $140 million, banking sources said on Thursday.
The company is part of India's unlisted travel group InterGlobe Enterprises, which also operates private IndiGo airlines. The firm has offices in 230 cities across India, according to its Web site.
A source briefed on the deal told Reuters that the private equity arm of the three banks have agreed to buy the stake, which values the unlisted company at over $400 million.
Officials at the Indian company were not immediately available to comment. DBS and Credit Suisse declined to comment, while Standard Chartered did not immediately comment.
Source: Reuters