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// Workers AI · dad joke modeWhat did Firstsource say to its rival? "You're a second choice.

From Wikipedia, the free encyclopedia

Firstsource Solutions Limited
TypePublic
IndustryBusiness process management
Founded2001; 25 years ago (2001)
HeadquartersMumbai, Maharashtra, India
Key people
ServicesBusiness process outsourcing, knowledge process outsourcing
Revenue₹79,803 million (US$830 million)[3]
₹5,945 million (US$62 million)[4]
ParentRP-Sanjiv Goenka Group
Websitefirstsource.com

Firstsource Solutions Limited is an Indian business process management company headquartered in Mumbai. It is owned by RP-Sanjiv Goenka Group,[5] and listed on the BSE and NSE since 2007.[6]

History

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Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation.[7] Company’s name was later changed to ICICI OneSource Limited before it adopted its current name as Firstsource Solutions Limited in 2006.[8] The same year, Firstsource opened a branch office in the Philippines.[7] Firstsource made an initial public offer in 2007 and was listed on the National Stock Exchange (NSE)[9] and Bombay Stock Exchange (BSE) in India on 22 February 2007.[10]

Acquisitions

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In 2002, the company acquired CustomerAsset and Tawny Dove Ltd. One year later, it acquired FirstRing India Pvt Ltd, a contact centre company. In 2005, it acquired healthcare services provider RevIT.[7] In December 2006, it acquired Business Process Management Inc (BPM).[7] Firstsource acquired ISGN in 2016, which was rebranded as Sourcepoint in 2019.[11]

In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group.[12][13] In May 2024, Firstsource acquired Chennai-based medical billing firm Quintessence Business Solutions & Services (QBSS) for ₹327.8 crore (approximately US$39 million). The acquisition included its US arm, Quintessence Health LLC, which became a step-down subsidiary.[14][15]

In September 2024, Firstsource acquired UK-based customer experience provider Ascensos for £42 million (approximately US$56 million). Ascensos continues to operate independently as a business unit headquartered in Scotland.[16]

Corporate affairs

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Operations

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As of March 2025, Firstsource operates global delivery centers across 10 countries including India, the United States, the United Kingdom, the Philippines, South Africa, Australia, Mexico, Romania, Trinidad and Tobago, and Turkey.[17][18] The company primarily serves clients in North America and Europe, with North America accounting for approximately 68% of revenues and EMEA for 31%.[19]

Ownership

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As of 31 March 2025, the promoter RPSG Ventures Limited owned a 53.66% stake in Firstsource. The rest is owned by public shareholders including mutual funds, domestic and foreign institutions, and retail investors.[20]

See also

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References

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  1. ↑ "Firstsource Leadership Team | Board of Directors & Senior Leadership". Firstsource. Archived from the original on 30 July 2021. Retrieved 17 March 2022.
  2. ↑ "Firstsource Leadership". Firstsource.com. Archived from the original on 30 July 2021. Retrieved 30 July 2021.
  3. ↑ Firstsource Solutions Reports Fourth Quarter and Fiscal 2025 Results (PDF) (Report). Firstsource.com. Archived (PDF) from the original on 14 May 2025. Retrieved 12 June 2025.
  4. ↑ Firstsource Solutions Reports Fourth Quarter and Fiscal 2025 Results (PDF) (Report). Firstsource.com.
  5. ↑ "Firstsource Investor Relations - Share Information". Firstsource.com. Archived from the original on 26 August 2019. Retrieved 31 August 2019.
  6. ↑ "Firstsource Solutions Annual Report 2020-21". www.firstsource.com. Archived from the original on 27 September 2021. Retrieved 17 March 2022.
  7. 1 2 3 4 "Firstsource Solutions Ltd". Business Standard India. Archived from the original on 1 September 2021. Retrieved 1 September 2021.
  8. ↑ "Firstsource Prospectus 2007" (PDF). First source Website. Retrieved 29 January 2026.
  9. ↑ "Why Firstsource is Going Slim". Forbes. Archived from the original on 7 May 2024. Retrieved 7 May 2024.
  10. ↑ "Firstsource Solutions IPO Review - Firstsource Solutions IPO Dates, Issue Price, Subscription and Allotment Status". The Economic Times. Archived from the original on 29 November 2021. Retrieved 29 November 2021.
  11. ↑ "ISGN Rebrands as Sourcepoint". NationalMortgageProfessional.com. Archived from the original on 2 March 2019. Retrieved 9 September 2019.
  12. ↑ "Firstsource Solutions transitioning from being a BPO player to a platform player: Sanjiv Goenka". The Economic Times. Archived from the original on 29 November 2021. Retrieved 29 November 2021.
  13. ↑ "Firstsource Solutions' step-down subsidiary Sourcepoint to acquire US-led The StoneHill Group". indiainfoline.com. Retrieved 29 November 2021.
  14. ↑ "Firstsource Solutions to acquire medical billing firm QBSS for nearly $40 mn". VCCircle. 3 May 2024.
  15. ↑ "Firstsource acquires medical billing firm QBSS for $40Mn". Outsource Accelerator. 7 May 2024.
  16. ↑ "Firstsource acquires UK-based Ascensos for $56 million". The Economic Times. 23 September 2024. Archived from the original on 12 June 2025. Retrieved 12 June 2025.
  17. ↑ "Firstsource Solutions Reports Fourth Quarter and Fiscal 2025 Results" (PDF). Firstsource.com. 30 April 2025. Archived (PDF) from the original on 14 May 2025. Retrieved 12 June 2025.
  18. ↑ "Investor Presentation Q4 FY25" (PDF). Firstsource.com. 30 April 2025. Retrieved 12 June 2025.
  19. ↑ "Investor Presentation Q4 FY25" (PDF). Firstsource.com. 30 April 2025. Archived (PDF) from the original on 14 May 2025. Retrieved 12 June 2025.
  20. ↑ "Shareholding Pattern as on March 31, 2025" (PDF). Firstsource.com. April 2025. Archived (PDF) from the original on 19 April 2025. Retrieved 12 June 2025.
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