HDFC limited may be looking at selling off its stake in its joint venture, Intelenet Global Services, a leading Business Process Outsourcing (BPO) Company.
HDFC owns a 50 per cent stake in the venture while the other 50 per cent is held by UK-based Barclays Bank.
A HDFC spokesperson, however, offered no comments on the likely stake sale.
Similarly, Intelenet too refused to comment on the matter with its public relations company, stating that “we do not wish to comment on market speculation.”
Market speculation, however, has it that HDFC is seeking to exit from the joint venture
Intelenet, which commenced operations in November 2001, delivers contact centre, finance and accounting and transaction processing services to its clients worldwide.
The BPO company presently has 17,000 employees across 17 state-of-the-art service delivery centres in India.
Source : Zee News