Shearman & Sterling represented the underwriters, led by Citigroup and J.P. Morgan, in an offering of 4,000,000 shares of ExlService Holdings, Inc. common stock at $23.00 per share. Three million of the shares were sold by Oak Hill funds, a 40% holder, and 1,000,000 were issued and sold by ExlService.

ExlService provides business process outsourcing services to Fortune Global 500 and Fortune 1000 companies across a variety of sectors, including insurance, utilities, banking and financial services, transportation and travel. The company’s 17,400 professionals service clients from operations centers in India, the United States, Bulgaria, the Philippines, Romania, the Czech Republic and Malaysia.

The Shearman team included partners Robert Roberts (New York-Capital Markets), Robert Treuhold (New York-Capital Markets), Douglas McFadyen (New York-Tax) and Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory); counsel Jason Pratt (New York-Real Estate/Environmental); and associates Brian Bishop (New York-Capital Markets), Oliver Loxley (New York-Capital Markets), Brian Calandra (New York-Capital Markets), Steven Blau (New York-Financial Institutions Advisory & Financial Regulatory), Shriram Bhashyam (New York-Financial Institutions Advisory & Financial Regulatory) and Shiu-Kay Hung (New York-Tax).