Eclerx Srv

By Research Desk
about 14 years ago
Eclerx Srv

eClerx, a Mumbai-based company, has filed its DRHP with SEBI on 14th September 2007 with an initial public offering (IPO) of around Rs 100 crore. It will become the first Knowledge Process Outsourcing (KPO) company to ever tap the IPO market in India. The Book Running Lead Managers to the issue are JM Financial Consultants and Edelweiss Capital. The stocks are to be listed on the BSE and NSE.


British Virgin Island-based Burwood Ventures holds around 21 per cent in this company which was founded in 2000.


eClerx plans to use the funds for future acquisitions, setting up additional facilities, infrastructure investments and to expand the sales team. The company has around 1,000 employees in three centres in Mumbai. A fourth centre occupying 75,000 sq ft is coming up in Pune SEZ, with a capacity to accomodate 900 people. The company is planning to open additional centres in Chennai, Pune and the National Capital Region.


The company has earmarked Rs.22 crore towards acquisitions and is scouting around for companies in US and UK.  It recently acquired the UK-based Igentica Group, which gave the company a client base in the travel and hospitality verticals.


Close to 80% of eClerx's business comes from US and hence strategically, it is looking at acquiring a company in the US.




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