Genpact, a former GE unit and provider of offshore business process outsourcing (BPO) services, priced its rather large offering of 35.3 million shares at $14, an 18% discount to its proposed $16-$18 range. While GE sold a 60% stake of Genpact to private equity shops General Atlantic and Oak Hill in 2004, it still owns 23% and remains Genpact's largest customer. Morgan Stanley, Citi and JP Morgan acted as joint book-running managers for the offering, and the stock is scheduled to commence trading on the NYSE under the ticker symbol "G" on Thursday.
