Carlyle Group-backed (CG) Quest Global has begun discussions with investment banks about a potential initial public offering in Mumbai that could raise up to $1 billion, Bloomberg reported Tuesday, citing unnamed people familiar with the matter.
The company has held talks with bankers in recent weeks and is expected to appoint advisers soon, the report said.
The proposed IPO could include a mix of new shares and secondary sales by existing investors, though the size and timing of the offering are still under discussion and may change, according to Bloomberg.
A representative for Quest Global did not respond to a request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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