Indian IT firm Hexaware can be acquired for 3 billion dollars.Bidders line up for this deal

According to sources, Baring Private Equity Asia (BPEA) has shortlisted bids for its India portfolio firm Hexaware Technologies, including Bain Capital and Teleperformance SE, in a deal for about $3 billion.

Private equity firms KKR & Co and Carlyle Group are also in the running, according to four people with knowledge of the offer who declined to be identified because the information is confidential.

According to the sources, BPEA has chosen a few from around ten initial bids to go to the next stage, which is due in approximately a month. According to them, bids for Hexaware ranged from $2.5 billion to close to $3 billion.

BPEA, Bain, KKR, and Carlyle, all based in Hong Kong, declined to comment. Hexaware and Teleperformance, a business services firm based in Paris, did not immediately respond to demands for comment.

BPEA purchased a controlling position in Hexaware, an IT services provider, for $420 million in 2013 and took the company private from local stock exchanges late last year.

Hexaware, based in Mumbai, provides technology for automation, cloud, and customer support to various industries, including finance, education, hospitality, and manufacturing.