FirstsourceFirstsource Solutions Limited is a provider of business process outsourcing services headquartered in Mumbai, India. It is owned by RP-Sanjiv Goenka Group. Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource has operations in India, US, UK, and the Philippines.
HistoryFirstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation. Its name was changed to Firstsource Solutions Limited in 2006 and in 2007 became a public company listed on the Indian Stock Exchange.
Public offerFirstsource made a public offer in February 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on February 22, 2007. Major shareholders in Firstsource include CESC Ventures Limited (53.96%), ICICI Bank Limited (4.85%), Rakesh Jhunjhunwala (3.25%), Steinberg India Emerging Opportunities Fund Limited (1.44%), HDFC Small Cap Fund (5.33%), Mutual Funds (5.65%), foreign institutional investors (9.01%) and the remaining 16.51% is held by the public.
StructureThe RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary. As of March 2015, Firstsource had 12 subsidiaries. Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019.
Firstsource products include: