Mumba-based Neoteric Infomatique (NI) has filed its DRHP with SEBI on 30th April, 2008 to enter the capital market with an IPO of 69.70 lakh equity shares of Rs 10 each at a price to be determined at a later stage through the book building process. The issue would constitute 40% of the fully diluted post-issue paid-up capital of the company.
The company proposes to list its shares on BSE and NSE and the BRLM to the issue is Microsec Capital.
The object of the issue is for setting up of a corporate office and new branches and for working capital requirement.
The company proposes to utilize the issue proceeds to part finance the above mentioned project cost. It will deploy Rs 10 crores to set up the corporate office and Rs 1.20 crore for new branches and another Rs 30 crores for working capital needs.
Neoteric Infomatique, founded in 1991 as a value-added re-seller organization, commenced its operations as a national distributor of IT space in 1997.
NI's evolved its business from a startup to a large integrated organization that adds value at all stages of the technology selling value chain. The company delivers Neoteric value proposition right from establishing the brand and product awareness, creating demand, enlisting partners, conducting partner training workshop and technology demonstrations, etc.
It plans to extend F1Services to encompass support services ranging from Technology Consulting, Remote and Onsite Infrastructure Management, Support Plans, Training and Certifications, Security and Policy Audits.
The company's coverage across India is facilitated via 36 branches having their stocking locations, 4 logistic centers and 4 additional warehouses catering to over 7200 channel partners in more than 350 cities. The company has taken steps to serve the global markets with its international business operations in China and via its associates in Singapore, Vietnam and SAARC countries like Pakistan.
Imitation India Pvt Ltd a subsidiary of Imitation Corp, a worldwide leader in removable data storage media have appointed Neoteric Infomatique as its national distributor for imitation range of products. Imitation will leverage on Neoteric's pan-India reach as it has more than 36 sales and service offices.
The company posted an income of Rs 488.54 crores and net profit of Rs 3.74 crores for the year ended March 31, 2008 as against an income of Rs 363.70 crores and net profit of Rs 3.55 crores for FY07.For the nine month period ended December 31, 2007, the company posted an income of Rs 418.51 crores and net profit of Rs 3 crores.