April 3, 2025: Bangalore, India — Xpheno, India’s largest specialist staffing firm, has revealed its plans to expand and specialize further in the staffing market as it prepares for its Initial Public Offering (IPO). Over the next two to three years, Xpheno aims to position itself as the top staffing partner for the establishment of 200 Greenfield Global Capability Centres (GCCs) in India.
As part of this strategic growth, Xpheno has appointed Francis Padamadan as its new Chief Executive Officer (CEO)-Designate, further strengthening the company’s leadership team. Padamadan, who brings over 22 years of experience in the staffing industry, will streamline responsibilities that were previously managed by co-founders Kamal Karanth and Anil Ethanur. This leadership move is designed to enhance structural stability and increase operational agility as Xpheno readies itself for the IPO.
Francis Padamadan Joins Xpheno as CEO Designate to accelerate next phase of growth
Francis Padamadan, a seasoned staffing industry veteran, has held key leadership roles at prominent global recruitment firms, including NASDAQ-listed Kelly Services and UK-based TritonExec. His experience in executive search, recruitment process outsourcing (RPO), and global staffing operations will be instrumental in scaling Xpheno’s operations.
“We’re at a pivotal point in our growth, and bringing Francis on board will help us expand rapidly in the specialist staffing space,” said Kamal Karanth, Co-founder of Xpheno. “Francis brings a rare combination of expertise in staffing, executive search, and scaling Greenfield GCCs in high-demand sectors like banking and automotive. His deep understanding of the GCC ecosystem will allow us to scale quickly and efficiently.”
“I’m excited to join Xpheno at this inflection point,” said Francis Padamadan, CEO-Designate. “This opportunity to drive growth in specialist staffing, forge strategic global GCC partnerships, and expand into new geographies aligns perfectly with my experience. I look forward to working with the founders and leadership team to cement our position as a leader in the GCC recruitment space.”
Xpheno Targeting Global Growth and Expansion into Europe – Sets 500 Crore Revenue Target
The staffing specialist firm is celebrating its ninth year with ambitious targets. The company aims to surpass INR 500 crore in turnover, secure partnerships with over 100 GCCs for tech staff augmentation, complete strategic acquisitions in RPO or Executive Search, and extend its operations into Europe to support GCCs expanding into India.
Co-founder Anil Ethanur emphasized that Xpheno’s ability to support Greenfield GCCs with specialized, high-demand tech talent has been central to the company’s growth. “We’ve been able to scale 40+ Greenfield GCCs quickly, matching them with the right specialized talent at speed. With our roadmap in place, we’re prepared to leverage these strengths and move toward our IPO,” he added.
India’s $6 Billion Specialist Staffing Market
As demand for highly specialized skills surges, especially in sectors like banking, automotive, and tech, Xpheno’s strategic positioning within the Indian staffing ecosystem has proven beneficial. The company’s ability to serve niche needs through its proprietary framework—Skill_Speed_Scale_Price—has set a new industry standard.
India’s specialist staffing market is experiencing rapid growth, with over 40 new GCCs entering the country annually. These GCCs are hiring thousands of tech professionals, and with over 50,000 software engineers migrating out of India each year, the staffing specialist firm is perfectly positioned to capitalize on this talent gap.
With its footprint across major cities in India and an expanding presence in the U.S., the staffing services firm is well-positioned to continue serving Greenfield GCCs and further extend its reach in global markets.
Xpheno’s Roadmap to IPO and Beyond
Xpheno’s IPO preparations are well underway. The company, which has successfully placed over 23,000 niche tech professionals in Greenfield GCCs over the past eight years, is poised to benefit from a strong profit-driven model. The staffing firm’s high-margin business mix, built around specialized RPO services, and its deep relationships with over 400 GCCs offer a distinct advantage as the company moves toward its public listing.
“We’ve built a unique ability to meet the growing demand for niche talent at scale,” said Karanth. “With the expected entry of 300+ GCCs into India over the next five years, we are set to capitalize on this wave of expansion.”
The Staffing Firm is expected to finish the current fiscal year with an approximate turnover of ₹300 crore, and its leadership is confident that its expanded capabilities and new CEO will propel the company toward its IPO goals.
