BA's former Indian offshore unit floats on NYSE

The former Indian offshore outsourcing unit of British Airways (BA) has raised more than $255m after completing its IPO on the New York Stock Exchange (NYSE).
WNS floated at $20 per share on its opening day on the NYSE on 26 July, with shares reaching a high of $25 earlier this week and giving the company a market capitalisation of almost $1bn. The 12.7 million shares offered represent just over 28 per cent of the company.
WNS, which reported $202.6m in revenue for the last year, was originally set up by BA as a wholly owned captive business process outsourcing (BPO) division in Mumbai in 1996 to support the airline's back-office operations.
The company now has around 10,500 employees and operations in Gurgaon, Mumbai, Pune and Sri Lanka.
04/08/06 Andy McCue/Silicon.com, UK

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