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EQT Plans $2.5B IPO for Data Firm Straive
7 Jul
Summary
- EQT Partners plans a $400 million IPO for its platform Straive.
- The India-focused company Straive is expected to be valued at $2.5 billion.
- EQT will likely sell a 15-20% stake in the upcoming offering.
Swedish investment firm EQT Partners is planning to raise approximately $400 million by listing its outsourcing platform, Straive, on Indian stock exchanges by early next year. The proposed Initial Public Offering (IPO) will be an offer for sale, aiming to value the India-focused company at an estimated $2.5 billion. EQT is expected to offload a 15-20% stake in Straive during the offering. A draft prospectus is anticipated to be submitted to the capital market regulator Sebi in September.
Founded in 1980 and headquartered in Singapore, Straive offers data analytics and AI-led solutions to numerous global enterprises, including Fortune 500 companies. The platform maintains a significant operational presence with 16 locations across India. EQT Partners acquired Straive, previously known as SPi Global, in 2021 for a valuation between $800 million and $1 billion.
Straive serves a diverse range of industries, including banking, financial services, retail, media, and pharmaceuticals. Its delivery teams operate across the Americas, Europe, Africa, and Asia. EQT previously listed its Indian healthcare-focused BPM company, Sagility, in 2024, which saw a positive market debut. Straive's main competitors in the data and AI services sector include Fractal Analytics, Tredence, and EXL.
