Financial Daily from THE HINDU group of publications
Thursday, Sep 15, 2005
Financial Daily from THE HINDU group of publications Thursday, Sep 15, 2005 |
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Info-Tech
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IPOs Bartronics plans to raise Rs 32 cr via IPO Our Bureau
Hyderabad , Sept. 14 BARTRONICS India Ltd, a data capture solutions provider, is set to tap the market with its maiden public issue to fund its expansion plans in India and abroad. The Managing Directo , Mr Sudhir Rao, told Business Line, that the company recorded revenues of Rs 18 crore during the year ended March 31, 2005, and projected revenues of Rs 28 crore. "As the company seeks to expand its range of services, we believe Bartronics needs fund infusion ." "We expect to enter the capital market shortly and plan to raise about Rs 32 crore; details of the issue are being finalised. We have enlisted the services of Karvy Consultants and soon we will file the prospectus," he said. ""While the domestic market would be addressed by a chain of about 200 dealers, we plan to locate Bartronics centres in Bangaladesh, Sri Lanka, Dubai and Mauritius to tap the markets there," he said. As a part of the expansion plan, Bartronics plans to set up an R&D centre for RFID technologies.
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