New Delhi, Sept. 30 -- Virtusa Corp., the information technology services provider owned by EQT AB, is sounding out domestic investment banks for an initial public offering (IPO) in India that could value the company at $7 billion (approximately Rs.67,000 crore), or more, according to two people with direct knowledge of the matter.

The Massachusetts-based company has already hired global bulge-bracket banks Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co. for the proposed IPO, according to a Reuters report dated 28 April. It is now looking to add local investment banks to the syndicate as preparations accelerate for a share sale targeted for 2027, the people said, asking not to be identified because the discussions are private.

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