Quest Global shifts corporate domicile to India ahead of IPO
Quest Global, a major player in engineering services, is officially moving its corporate domicile to India as it gears up for an IPO next year.
Instead of spending extra cash, it is merging its overseas holding structure into the Indian subsidiary through a share swap.
Co-founder and CEO Ajit Prabhu says this shift should help Quest grow faster, especially through acquisitions that could add 5% to 10% to its future growth.
Quest earns half revenue from US.
Right now, about one-half of Quest's revenue comes from the US with Europe and Asia (including Japan) following behind.
India does not bring in much money yet, but the company hopes to boost efficiency there by working with global capability centers.
It is also eyeing West Asia's oil and gas sector for new investments.
Quest buys BITSILICA, maintains China team
Quest has around 200 employees in China supporting US companies' supply chains.
Earlier this year, it bought BITSILICA, a semiconductor design firm in India, to strengthen its tech game as it prepares for the big IPO.