Quest Global Eyes $3-3.5 Billion Valuation in Pre-IPO Fundraising Round
Quest Global, a Singapore-based engineering services outsourcing company, is planning a pre-IPO fundraising round to raise $200-225 million by selling a 5-6% stake. The company aims for a valuation between $3 billion and $3.5 billion. Quest Global is also working on redomiciling from Singapore to India, with plans to merge with its Indian arm and shift its global headquarters to Bengaluru. The company reported $877 million in revenue, $66 million in EBITDA, and $27.5 million in net profit, with operations across 17 countries and 83 delivery centres. Founder Ajit Prabhu holds a 42% stake, while Carlyle Group owns 24%.
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Quest Global, the Singapore-headquartered engineering services outsourcing company, is gearing up for a significant pre-IPO fundraising round, targeting a valuation between $3 billion and $3.5 billion. The company aims to raise $200-225 million by selling a 5-6% stake through a combination of primary shares and secondary sales from angel investors and high-net-worth individuals.
Fundraising Details
Quest Global has engaged Jefferies to advise on the deal, with approximately 10 non-disclosure agreements already signed. This move signals strong interest from potential investors in the company's growth story.
Redomiciling Plans
In a strategic move to facilitate future listing on Indian stock exchanges, Quest Global is simultaneously working on redomiciling from Singapore to India. The company plans to merge with its Indian arm as part of this process. Following the redomiciliation, Quest Global's global headquarters will shift to Bengaluru, India.
Current Ownership Structure
The company's current shareholder structure includes:
- Founder Ajit Prabhu: 42% stake
- Carlyle Group: 24% stake
Financial Performance
Quest Global has demonstrated strong financial performance:
| Metric | Value |
|---|---|
| Revenue | $877.00 million |
| EBITDA | $66.00 million |
| Net Profit | $27.50 million |
The revenue represents an 18% year-over-year growth.
Company Overview
Quest Global has established a significant global presence:
- Operations across 17 countries
- 83 delivery centres
- 21,000 employees
The company serves a diverse range of clients across multiple industries, including:
Aerospace
- Pratt & Whitney
- Rolls-Royce
- Airbus
Automotive
- BMW
Energy and Semiconductor
- GE
Quest Global's expertise spans aerospace, automotive, energy, and semiconductor industries, positioning it as a key player in the engineering services outsourcing sector.
This pre-IPO fundraising round and redomiciliation effort mark significant steps for Quest Global as it prepares for potential public listing and continued growth in the global engineering services market.
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