American private equity firm Blackstone and Filipino BPO service provider SPi Global are the two front runners in the race to buy Serco India BPO, which is currently listed on the London stock exchange.

Serco announced its intention to sell off parts of its BPO portfolio back in March 2015, after a poor financial year in 2014 where the company announced operating losses of £1.3 billion. Serco now intends to focus on acting as a business-to-government service provider.

Business Standard ranks Serco India as India’s third top BPO with a workforce of 30,000, closely following Genpact (68,000) and TCS (45,000).

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