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

Carlyle Group Inc.-backed Quest Global Services Pte has begun discussions with investment banks for a potential initial public offering in Mumbai that could raise as much as $1 billion, according to people familiar with the matter.

The Singapore-based engineering services firm has held talks with bankers in recent weeks and is expected to appoint advisers soon, the people said, asking not to be identified because the deliberations are private.