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Trimax to raise Rs 250-cr through IPO

Trimax to raise Rs 250-cr through IPO
PTI
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First Published: Tue, Jan 04 2011. 09 47 AM IST
Updated: Tue, Jan 04 2011. 09 47 AM IST
Mumbai: IT firm Trimax IT Infrastructure and Services plans to raise around Rs 250-crore through an initial public offering (IPO) this year, a top company official said.
The firm hopes to file the draft red herring prospectus (DRHP) with market regulator Sebi over the next six months, the company said.
“We are planning to come out with an IPO during this year itself and look at mobilising around Rs 250-crore. We will file the DRHP in the next six months,” Trimax’s director, Sudhanshu Tewari said.
The Mumbai-based company, which operates in three verticals—System Integration, Data centre services and IT Infrastructure Management—would be using the proceeds for the firm’s domestic as well as overseas expansion, mainly in Africa, he said.
Trimax which is eyeing for a turnover of Rs 535-crore in FY 11 also plans to hire 1,000-1,200 technical professionals to its present workforce of 2,000-odd employees over the next one year, Tiwari said .
“We are aiming at a 52% increase in revenues in the current fiscal,” he said.
The company posted revenues of Rs 350-crore in the last fiscal.
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First Published: Tue, Jan 04 2011. 09 47 AM IST
More Topics: Trimax | IPO | DRHP | Sebi | Sudhanshu Tewari |