WNS ( WNS) rose 12% in its trading debut. The Indian outsourcing company raised a net $78 million Wednesday by selling 4.47 million shares, and insiders racked up $125 million by unloading 6.73 million shares. Shares were priced Tuesday at $20 and rose $2.45 Wednesday to $22.45. Private equity firm Warburg Pincus holds a controlling stake in the company and is expected to remain a majority shareholder after the offering. British Airways is selling almost its entire 15% stake in the firm, which started 10 years ago as an arm of British Airways. WNS serves clients like Air Canada, British Airways, Virgin Atlantic Airways, Marsh, First Magnus Financial, SITA and Tesco. Its five largest clients accounted for 41% of revenue and its 20 largest clients represented 73% of its revenue in the most recent fiscal year. The company posted revenue of $202.8 million in fiscal 2006, an increase of 25%. It posted an operating profit of $19.9 million.