(Bloomberg) -- Perfios Software Solutions Pvt., an Indian technology company backed by Warburg Pincus, is considering an initial public offering that could raise about $500 million in India, according to people familiar with the matter.
A potential IPO could value the Bangalore-based company at about $2 billion, the people said, asking not to be identified because the deliberations are private. Perfios is seeking to hire banks to help arrange a share sale that could take place as early as this year, the people said.
Founded in 2008, Perfios is software-as-a-service company whose clients include banks, insurers and other financial services firms in markets such as India, the Middle East and southeast Asia, according to its website. Private equity firm Warburg Pincus invested in the company in 2019. In September, it raised $229 million from buyout firm Kedaara Capital in a series D funding round as it seeks to expand in North America and Europe.
Existing shareholders could sell some of their shares in the offering, the people said. Considerations are preliminary, no final decisions have been made and details such as the size and timing of the IPO could change, they said.
Representatives for Warburg Pincus and Perfios did not respond to requests seeking comment, while Kedaara Capital declined to comment.
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