EQT-owned Virtusa plans $1B India IPO, eyes $7B valuation
Business
Virtusa, a major IT services company owned by Swedish private equity firm EQT, is gearing up for a $1 billion initial public offering in India, possibly the country's largest this year.
The listing could value Virtusa at over $7 billion, with big banks like Citigroup, JPMorgan, and Morgan Stanley handling the process.
Final details will come after the pending roadshow later in 2026.
Virtusa IPO helps EQT return capital
Virtusa has deep roots in Indian tech hubs like Hyderabad and Chennai. After being acquired by EQT in 2022, the company's initial public offering will help EQT return money to its investors.
This move follows EQT raising $15.6 billion for an Asia-focused fund, showing they're betting big on the region's growth and on India's booming tech scene.