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Tuesday, May 02, 2006

Dr IT Planets` IPO by year-end

Chandigarh-based Dr IT Planets, which is in the business of software development and bringing up call centres, has major expansion plans in Northern India, reports Business Standard.

Its turnover is expected to go past Rs 50 crore (Rs 500 million) from the current Rs 10 crore (Rs 100 million), after the completion of its project by the end of this year. To funds its expansion plans, the company will be coming up with an initial public offer, IPO, by the end of the year.

With its focus on the international arena, the company has decided to open a 1,200-seat call centre each in Noida and Mohali. Also, the company is going to come up with an IT SEZ in Greater Noida.

Deepti Mahajan, director, Dr IT Planets, said the total investment for the three projects was going to be approximately Rs 15 crore (Rs 150 million).

"In Mohali, a 1,200-seat call centre and a BPO unit will come up in a one-acre plot. Along with it, the Noida call centre, which is going to be operational by August, will be catering largely for the international market," Mahajan said.

Work on the IT SEZ in Greater Noida will start soon, where incubation facilities for six to seven IT companies will be available. The SEZ will be spread over four-five acres.

The seven-year-old company provides integrated business process outsourcing solutions, contact centre operations, voice-based and web-based, high-end IT training, call centre operations, and software development, for domestic and global clients from its operations centres in India.

With its presence in Chandigarh and Jaipur, and with an overseas subsidiary in New Zealand, the company is now thinking of opening offices in the UK, Australia, and the US. The Chandigarh and Jaipur centres are both 500-seat call centres cum BPO units.

Going on the backward integration path, the company has plans to start an information technology educational institute near Banaur in Patiala, where it has purchased 30 acres.

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