Others equivalent to Ontario Academics’ Pension Plan (OTPP) and Blackstone are additionally evaluating the asset, two of the three individuals cited above stated on the situation of anonymity. The individuals added that JP Morgan is conducting the sale course of.
“Whereas no bids have been positioned, the method has been initiated to gauge market curiosity even because the IT companies trade undergoes a difficult time,” a 3rd individual stated, including that the deal continues to be in early levels and the contours are nonetheless being determined.
The event comes towards the backdrop of a consolidation within the broader IT companies areawhich has seen varied mergers and acquisitions in latest instances. The transfer additional underscores the corporate’s plans to discover varied acquisitions to ascertain its market presence forward of a deliberate public itemizing within the close to time period.
Blackstone, EQT, JP Morgan, Carlyle and Temasek declined to remark, whereas emails despatched to Citius Tech, CVC, Creation, and OTPP didn’t elicit a response until the time of publishing.
In March 2014, CitiusTech had raised capital from Common Atlantic. Baring Non-public Fairness Asia, rebranded EQT in 2022, acquired a majority stake in Citius Tech by way of its India pool of capital in 2019.
In 2022, Bain Capital’s personal fairness arm joined CitiusTech’s capitalization desk after shopping for a portion of EQT’s stake within the firm. If the most recent course of goes as deliberate, it should mark EQT’s full exit from its seven-year-old guess within the firm.
To be clear, CitiusTech’s present shareholders every maintain roughly a 40% stake within the firm, with the remaining held by the promoters and workers, as per on-line reviews.
Different outstanding offers within the IT companies area embody Zensar’s potential stake in Mastek, PAG evaluating an funding in Accion Labs, Happiest Minds’ co-founder Ashok Soota exploring a stake sale within the firm, as per varied reviews.
Based in 2005 by Rizwan Koita and Jagdish Moorjani, Mumbai-based CitiusTech supplies a variety of digital healthcare know-how and consulting companies to greater than 130 main healthcare and life sciences organizations.
With synthetic intelligence-driven options taking centre stage, CitiusTech has made investments in proprietary platforms, accelerators, and scalable, repeatable options to deal with trade wants equivalent to value-based efficiency, know-how modernisation, affected person engagement, medical imaging, digital entrance door, and digital well being transformation.
In 2025, Mint reported on the firm’s progress push by way of acquisitions and its plans to guage an IPO both within the US or India later within the yr. The healthtech agency stated it’s exploring expansions in Europe and Japan, as demand for healthcare know-how companies will increase amongst medtech, healthcare, and life sciences corporations.
Prior to now, it has acquired corporations like FluidEdge and SDLC Companions, which have strengthened its market place within the healthcare area consulting and end-to-end digital transformation options throughout its key markets – MedTech, payers, suppliers, and life sciences.
CitiusTech’s high opponents within the healthcare know-how, digital well being, and IT companies sector embody Innovaccer, Abacus Insights, Emids, Cotiviti, Altera Digital Well being, and Inovalon, as per varied on-line reviews.
In FY24, the corporate reported a income of ₹3,552 crore and a revenue of ₹350 crore, based on knowledge sourced by Tofler from the ministry of company affairs.
The corporate had said plans to attain $1 billion in income by FY28, Mint reported, including that it clocked high-single digit income progress in FY25 and expects mid-teen progress within the present fiscal yr.