The Hindu Business Line : Shriram EPC's order book swells to Rs 600 cr

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Chennai Feb. 19 Shriram EPC Ltd, part of the Chennai-based Shriram group, is sitting on an order book worth Rs 600 crore, twice as much as its expected turnover for the current year. The company is into providing a variety of engineering and construction services, including production of equipment.

Funds would be needed to operate at a higher capacity and the company would soon take a call on when to come out with its initial public offering. "Our next funding will be through an IPO," the company's Managing Director, Mr T. Shivaraman, told Business Line on Saturday.

Going public and listing is also needed to give an exit route to Bessemer Venture Partners, a US-based private equity fund, which picked up 33 per cent in Shriram EPC (for Rs 100 crore) in March 2006. Besides, the company is planning an ESOP and will have to give the employee-shareholders an exit route.

Mr Shivaraman said that business was booming with every possibility of turnover touching Rs 300 crore this year, against Rs 140 crore last year. The company has picked up orders from Bokaro and Durgapur steel plants, and from a host of companies that want to put up biomass-based power plants.