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Monday, March 20, 2006

Xenitis mulls IPO in July-August



Xenitis, the company best known for its sub-10 K personal computers, PC, is launching an initial public offering, IPO, in July-August, to fund its manufacturing and product development plans, Tathagata Datta, Managing Director, Xenitis Infotech, said, reports DNA.

“We plan to mop up Rs 250 crore (Rs 2.50 billion) from the market through the IPO and will put in a major chunk of the fund into the existing manufacturing facilities and also set up new facilities,” Datta said.

Divulging the details of the location of the new manufacturing facilities, Datta said West Bengal remains the top choice for investment. Xenitis, manufacturers of the Aamar brand of personal computers, which is sold as the Aamchi PC in the west and Apna PC in the north, has tied up with KTC, the largest manufacturer of TFT in China, to manufacture monitors.

It has a manufacturing facility in collaboration with Chinese major Unitek Computer at Sugandha in Hooghly, West Bengal.

“We intend to make prices and durability more attractive than the Chinese products. Therefore, except for CPU manufacturing, we will make everything else over here in our own facilities,” Datta said.

The company has expanded its product range to include high-end servers.

The Kolkata-based computer manufacturing company is aiming to net Rs 500 crore (Rs 5 billion) revenue for 2005-2006, and expects to double the revenue in the following year, according to Arup Sarkar, the National Head of Sales.

Xenitis has tied up with Iris Computers for the national distribution of its computers.

The Xenitis group of companies, jointly founded by Chairman Santanu Ghosh and Managing Director Tathagata Datta, has achieved a turnover of Rs 178 crore (Rs 1.78 billion) for 2004-2005.

Global Automobiles, a joint venture between Xenitis and Guangzhau Motors, will start producing two-wheelers in July-August, with eight models hitting the market at one go, Datta said. SST Media, the latest addition to the Xenitis bouquet, will usher in a new 24X7 infotainment channel on March 27 this year for viewers of Kolkata TV.

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