Customer experience and technology services provider CSS Corp CEO Sunil Mittal said the company is considering an initial public offering (IPO) in late 2023 for its stand-alone business.

Mittal also said the company is working with business process management (BPM) firm Startek on opportunities where they can add value, but has had no conversations regarding Startek’s increasing minority stake in CSS. .

Every time a private equity deal occurs, a fund is created. There are several investors in this fund. The Startek investment fund is an indirect investment in this fund managed by Capital Square Partners. From Startek’s perspective, I don’t have any conversations with them on these aspects. We work remotely (unless there is an opportunity). The way forward is for us to be independent, continue our momentum and create value for our investors through an IPO, ”he said.

He said the company plans to go public as a stand-alone business in late 2023.

Startek’s chief financial officer (CFO) Vikash Sureka told Business Standard he plans to increase his minority stake in CSS Corp to give it access to a larger market.

Startek announced a strategic $ 30 million investment in CSS Corp in March. The investment was made in a limited partnership managed by Startek’s majority shareholder, Capital Square Partners.

Mittal, who took over as CEO in May, said CSS is also considering expanding into new geographies and considering acquisitions in areas such as healthcare.

“We plan to hire 3,000 people and we have already hired 1,800 net positions this year,” Mittal said.

The Texas-based company crossed the 10,000 employee mark in August, and 6,000 of those employees are based in India.

“Last (financial) year we increased by 25%, and this year also we will grow by over 25%. Based on the trajectory we are seeing, we should also be able to maintain this momentum over the next few years, ”added Mittal.

The company is present in the United States, Costa Rica, Manila, India, Colombia and will expand to Romania from next month.

About 80 to 85 percent of CSS’s business comes from the tech and telecommunications industry, while 5 to 8 percent comes from consumer packaged retail. He plans to focus more on consumer retail products and healthcare through acquisitions.

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