India-Focused Tech Firm Streamcast Weighs London IPO
Streamcast is considering an initial public offering as soon as next year.
(Bloomberg) -- Streamcast Group, a firm whose technology enables streaming services and boosts networks in emerging markets, is considering an initial public offering as soon as next year, people familiar with the matter said.
The company is aiming to list in London, though it’s also considered other venues, the people said, asking not to be identified because the deliberations are private. HSBC Holdings Plc and JPMorgan Chase & Co. are poised for a role on the listing, they said.
Discussions about an IPO are at an early stage and Streamcast, which does much of its business in Malta, India and developing nations, may still decide against selling shares, they said. Last month, the company announced a partnership with Indian state-owned telecom Bharat Sanchar Nigam Ltd. to offer “triple play” services as well as a program to provide educational content.
Representatives for Streamcast and the banks declined to comment.
Streamcast’s technology allows telecommunications providers with older, low-bandwidth networks to offer video streaming and web calling. The company also provides cloud computing and data-center services and licenses and produces content, according to its website.
The technology firm is also in talks to back India’s more-than century old Mohun Bagan soccer club, formed in 1889 in Kolkata.
Streamcast has offices in the U.S., U.K., Ireland, Malta, Kenya, Dubai, Bahrain and India, according to its LinkedIn page.
--With assistance from Bhuma Shrivastava and Saritha Rai.
To contact the reporters on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net;Ruth David in London at rdavid9@bloomberg.net
To contact the editors responsible for this story: Daniel Hauck at dhauck1@bloomberg.net, ;Ben Scent at bscent@bloomberg.net, Amy Thomson, Chitra Somayaji
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