Firstsource Solutions Expands Middle East Presence with New Dubai Subsidiary

1 min read     Updated on 25 Jul 2025, 10:11 PM
scanxBy ScanX News Team
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Overview

Firstsource Solutions Limited has incorporated a new wholly owned subsidiary, FIRSTSOURCE MIDDLE EAST SERVICES L.L.C., in Dubai, UAE. The subsidiary has an authorized capital of 300 shares at AED 1,000.00 per share, with Firstsource holding 100% shareholding. This strategic move aims to expand Firstsource's BPO operations in the Middle East region. The subsidiary, which will operate in the IT (BPO) sector, has not yet commenced business operations or generated any turnover.

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*this image is generated using AI for illustrative purposes only.

Firstsource Solutions Limited , a prominent player in the Business Process Outsourcing (BPO) sector, has taken a significant step to strengthen its foothold in the Middle East market. The company announced the incorporation of a new wholly owned subsidiary, FIRSTSOURCE MIDDLE EAST SERVICES L.L.C., in Dubai, United Arab Emirates (UAE) on July 25, 2025.

Subsidiary Details

The newly established entity, FIRSTSOURCE MIDDLE EAST SERVICES L.L.C., has been set up with an authorized capital of 300 shares at AED 1,000.00 per share. Firstsource Solutions Limited holds 100% shareholding in the subsidiary, having subscribed to the share capital at face value.

Strategic Expansion

This move is part of Firstsource's strategic initiative to expand its BPO operations in the Middle East region. The company aims to tap into the growing demand for IT and BPO services in Dubai and the broader UAE market.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Firstsource Solutions Limited has duly informed the National Stock Exchange of India Limited and BSE Limited about this development.

Current Status

As of now, FIRSTSOURCE MIDDLE EAST SERVICES L.L.C. has not commenced business operations. Consequently, the subsidiary has not generated any turnover. The company is expected to begin its operations in due course, aligning with Firstsource's expansion strategy in the region.

Industry Focus

The new subsidiary will operate in the Information Technology (BPO) sector, consistent with Firstsource Solutions Limited's core business. This alignment is expected to leverage the parent company's expertise and experience in delivering BPO services to clients globally.

This strategic move by Firstsource Solutions Limited underscores the company's commitment to expanding its global footprint and capitalizing on emerging opportunities in the Middle East's growing IT and BPO market. As the subsidiary begins its operations, it will be interesting to see how this expansion contributes to Firstsource's overall growth and market presence in the region.

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Firstsource Solutions Expands UK Presence with Acquisition of Pastdue Credit Solutions

2 min read     Updated on 18 Jul 2025, 06:13 PM
scanxBy ScanX News Team
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Overview

Firstsource Solutions Limited has signed an agreement to acquire Pastdue Credit Solutions, a UK-based debt collection agency. The acquisition, subject to FCA approval, aims to strengthen Firstsource's position in the UK market, particularly in utilities, telecom, and public sector segments. Pastdue Credit Solutions, founded in 2005, provides white-label, early arrears, and debt collections services to major banks, utility providers, and government bodies. The UK collections market opportunity is estimated at over £1.9 billion. Pastdue Credit Solutions has shown strong financial performance, with a turnover of £16.90 million and operating profit of £3.40 million for the 2023-2024 financial year.

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*this image is generated using AI for illustrative purposes only.

Firstsource Solutions Limited, a global provider of Business Process Services (BPS), has announced a significant move to strengthen its position in the UK market. The company has signed an agreement to acquire Pastdue Credit Solutions, a prominent UK-based debt collection agency.

Acquisition Details

Firstsource Solutions UK Limited, a wholly-owned subsidiary of Firstsource Solutions, will purchase 100% ownership of Pastdue Credit Solutions. The acquisition is subject to Financial Conduct Authority (FCA) approval and aims to expand Firstsource's presence in utilities, telecom, and public sector segments across the UK.

Strategic Rationale

This strategic move is aimed at bolstering Firstsource's offerings in the utilities, telecommunications, and public sectors across the UK. Pastdue Credit Solutions brings deep expertise in first- and third-party collections, particularly in financial services, utilities, and the public sector.

Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, commented on the acquisition: "This move underscores our long-standing commitment to UK employment. We continue to believe that investing in local talent and infrastructure is integral to building a long-term sustainable business."

Market Opportunity

The acquisition comes at a crucial time for the UK collections market. With rising consumer debt and a growing role for private agencies in public sector collections, the market opportunity is estimated at over £1.9 billion. Firstsource aims to leverage its digital-first, AI-driven capabilities alongside Pastdue Credit Solutions' local expertise to capitalize on this opportunity.

About Pastdue Credit Solutions

Founded in 2005, Pastdue Credit Solutions is an FCA-registered UK-based collections agency. The company provides white-label, early arrears, and debt collections & recovery services to a diverse client base, including major banks, utility providers, telecommunications companies, and government bodies.

Financial Performance

Pastdue Credit Solutions has shown strong financial performance in recent years:

Financial Year Turnover (£ Million) Operating Profit (£ Million)
Nov 2023 - Oct 2024 16.90 3.40
Nov 2022 - Oct 2023 12.00 0.90
Nov 2021 - Oct 2022 12.40 1.90

Closing Remarks

Phil Grant, Chairman of Pastdue Credit Solutions, expressed enthusiasm about joining Firstsource: "This partnership has the potential to enable a new and exciting chapter for our people, our valued clients, and our future."

The completion of the acquisition remains subject to FCA approval and clearance under the National Security and Investment Act 2021. This move is expected to enhance Firstsource's capabilities in the UK market and create new opportunities for growth in the debt collection sector.

Historical Stock Returns for Firstsource Solutions

1 Day5 Days1 Month6 Months1 Year5 Years
-2.04%-4.16%-12.96%-3.79%+36.81%+650.44%
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