Mumbai-based Excel Infoways (EIL) has filed its DRHP with SEBI on 5/8/2008 to enter the capital market with an IPO of 57 lakh equity shares of Rs 10 each at a price to be decided through the book building process at a later stage.
The issue will constitute 26.93% of the fully diluted post issue paid-up capital of the company.
The company proposes to list its shares on BSE and NSE. The BRLM to the issue is Chartered Capital & Investment.
The objects of the issue are to set up new facilities, for strategic investments/joint ventures and for general corporate purposes.
The company proposes to utilize the proceeds from the issue for part financing the above mentioned objects of the issue. The company will deploy Rs 47.28 crores for the new facilities and Rs 30 crores for investments and/or joint ventures.
For the year ended 31st March, 2008, the company posted total income of Rs 23.11 crores as compared with Rs 19.79 crores for the year ended 31st March, 2007. It reported net profit of Rs 14.34 crores for the year ended March 31, 2008 as compared with Rs 15.38 crores for the previous year ended March 31, 2007.
The company is an offshore BPO services provider to clients primarily in telecommunications and financial sector. The company mostly caters to clients in the US and UK. Its business model revolves around three key drivers - people, processes and technology. The company is a registered member of Nasscom. EIL is an ISO 27001:2005 certified company.
There is a continuous check of the quality of exchange between the company's operators and customers through silent monitoring, recording, and consumer surveys. EIL commenced commercial operations in September, 2003 with an initial capacity of 50 seats. Since then it has witnessed rapid growth and expanded its operation to 150 seats.
The company currently have clients, all of which are overseas corporations, majority from US.
It presently has facility in Mumbai aggregating 150 seats. In addition, the company proposes to set up another 300-seat facility in Mumbai in fiscal 2009-2010, as part of the company's expansion plan.
EIL provide a comprehensive range of services to clients in each of its focused industries. The principal services that the company provide in each industry are:
Telecom Fulfillment Solutions: Customer acquisition, provisioning and fulfillment support, customer service and collections.
Financial Services: Customer acquisition, customer service, funds management and overseas property management, Business & Financial Transcription.
Technical services: Network Management and Monitoring, Solution of complex connectivity problems to increase bandwidth, improve response times, maximize performance, and support global operations.
Healthcare : Insurance Claim Processing, Medical Billing and Coding.