Quest Global Is Said to Invite Banks to Pitch for $1 Billion IPO

Carlyle Group-backed Quest Global Services is preparing for a $1 billion IPO in Mumbai, engaging investment banks for pitches, according to insider sources. The engineering services firm, specializing in aerospace, defense, and automotive sectors, seeks to capitalize on India’s booming capital markets for its public debut. Discussions with banks are in early stages, with no final timeline set, but the IPO could launch as soon as late 2026 if market conditions remain favorable. This move follows Carlyle’s 2021 acquisition of a majority stake in Quest Global, valuing the company at roughly $3.5 billion at the time. The potential listing underscores growing investor appetite for high-value Indian tech and engineering firms amid global economic shifts.