IT hardware and electronics company Intex Technologies (India) is targeting 100 per cent growth in revenues for 2010-11 to Rs 1,200 crore from Rs 593 crore.
The company also plans to raise Rs 250-300 crore from private equity (PE) investors in the next three-five years. The company has grown at a compounded annual growth rate of 38 per cent over the last five years. “We are looking at a five-year plan for PE funding and are in talks with six PE players as of now before we go for an initial public offering (IPO). We will also be ploughing back some resources. Also, we are looking for strategic PE investors and not only a financial investor,” said Ramesh A Vaswani, executive vice chairman, Intex.
As for the IPO, Intex plans to get listed on Indian stock exchanges in the first phase before it looks at other bourses. Moreover, the company is eyeing huge revenue growth from its small format retail stores, called Intex Square, which are 18 in number but will rise to 100 by March next year.
“These stores work on the franchise model and we will invest around Rs 50 crore on them. These are present in the India market only, but we have set up a vertical for international business,” added Vaswani. The vertical was set up eight months back to study the markets in Vietnam, South Africa and Sri Lanka.
On the products side, the company expects 35 per cent of the revenue to come from its telecom business, which currently contributes 25 per cent, and is getting back into the netbooks and notebooks segment.
Intex’s expansion also entails increasing the headcount by 500 people by the year end from the current 1,800.
Source: Business Standard