# Quest Global picks banks for $1 billion India IPO 2026-08-14T09:12:06+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet The Hindu Business Line reports that Quest Global Services, backed by Carlyle Group, has hired Axis Capital, Kotak Mahindra Capital, JM Financial, Morgan Stanley and Citigroup for a Mumbai IPO that could raise up to $1 billion. The draft prospectus is likely to be filed by December. The offering will include new shares and stock sold by existing investors. Carlyle acquired a minority stake in 2023, and Hillhouse Investment also took a stake earlier this year. Quest Global employs over 23,000 people across 20 countries. India's IPO market is recovering after a subdued first half, with about $7.3 billion raised so far this year. ## Coverage - thehindubusinessline.com Tags: Axis Capital, Carlyle, engineering services, IPO, Quest Global, stock market Canonical: https://indianopinion.org/quest-global-picks-banks-for-1-billion-india-ipo/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/quest-global-picks-banks-for-1-billion-india-ipo/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.