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Sunday, January 22, 2006

ARS Systems plans IPO in June-July 06

Distribution & Logistics Company ARS Systems is joining the public issue bandwagon. The company plans to raise Rs 21 crore from its IPO of 30 lakh shares. The company is planning this issue some time in June-July this year.

The company is hoping to close FY05 with a turnover of about Rs 18 crore. In the next financial year, it aims to double that. Says the company's Chairman and CEO Sudhir Mehra, "We will be closing FY05 at about Rs 18 crore. Next year, we are looking at doubling the turnover. We should be targeting about Rs 36 crore next year."

The company is looking at South Africa and its neighbouring countries as upcoming market for its products.

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