The Hindu Business Line : Omnitech setting up centre in Pune

“We intend to set up a 3,00,000 sq ft facility that will comprise an NOC (network operating centre), POC (proof of concept) centre, data management centre, disaster recovery centre and software development labs,” Mr Atul Hemani, Omnitech’s Managing Director, told Business Line.

The total cost of setting up the centre is estimated to be Rs 75 crore, a company source said. The company is planning to tap the capital market and use about Rs 7 crore of the funds raised to set up the disaster recovery centre, which is part of the project.

IPO opens on July 19

Omnitech has already filed the draft red herring prospectus with the Securities and Exchange Board of India late last year. “We will raise Rs 40 crore through the initial public offer which will open on July 19, said Mr Hemani.

Omnitech provides services in infrastructure management, software development and software testing. Omnitech will spend about Rs 20 crore for acquiring companies in the areas of software testing and infrastructure management. About Rs 10 crore will be spent in setting up overseas offices and enhancing the company’s existing infrastructure, added Mr Hemani.

The first phase of the new centre (about 70,000 sq feet) would be ready by the third quarter of fiscal year 2008, while the entire set up would be ready by fiscal 2010.