InterGlobe Technology Quotient‘s (ITQ) CEO Anil Parashar has confirmed that talks are under way for a chunk of the Indian travel tech business to change hands for an estimated $200 million.
ITQ is best known as the official distributor for Travelport products in India, Sri Lanka and other markets in APAC.
Rumours have been circulating for some time about its minority investors – Standard Chartered Private Equity, Credit Suisse and Singapore’s DBS – looking for an exit.
Parashar told The Economic Times of India this week:
“The existing investors have stayed with us as partners for a while and they have a timeline within which they need to exit….There is a formal process to find a buyer for their stake and the board should be able to take up the offers for review by the end of this month.”
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