Regional BPO player HRH Next goes public in India
MUMBAI, INDIA — Hyderabad-based outsourcing firm HRH Next Services was recently listed on the National Stock Exchange of India (NSE) after a well-received initial public offering (IPO).
Incorporated in 2007, HRH Next provides customer support, sales, marketing, and other outsourcing solutions in over 12 Indian languages. The company employs over 3,000 people across locations in South India.
The IPO, launched last September, saw an enthusiastic response with a 65x subscription.
“The success of this Initial Public Offering underscores the trust and confidence our investors have placed in HRH NEXT’s vision and potential,” HRH Next Managing Director Ankit Shah noted.
HRH Next reported revenues of INR511 million in FY22, a 15% increase year-on-year. The company plans to boost efficiency and cut costs by integrating digital capabilities into its operations.
The NSE listing ceremony was attended by exchange officials, Shah, and lead banker Finshore Management.
HRH Next looks to capitalize on India’s BPO market, which is projected to reach $10.41 billion at a 9.96% compound annual growth rate (CAGR) from 2024 until 2028.
“We are thrilled to embark on this new chapter of growth, fuelled by the support of our shareholders and the opportunities that lie ahead in the market. We are here to take Bharat’s customer experience to the next level,” Shah said.
