Bermuda-based Genpact, which provides offshore business services to General Electric Co. and other companies, hopes to raise up to $630 million from an initial public offering this week.

Genpact aims to sell 35.3 million shares, priced $16 to $18, managed by Morgan Stanley, Citigroup, and J.P. Morgan Securities.

The company said it will use net proceeds to repay outstanding debt and for working capital and general corporate purposes, including potential acquisitions.

Genpact was founded in 1997 as the India-based business process services operation for GE's financial services business. The company became independent at the beginning of 2005. On March 29, the company formed Genpact Ltd. in Bermuda to be the new holding company for the business.