Nu Tek India, offering infrastructure rollout solutions, for both mobile and fixed telecommunication networks, has filed its DRHP with Sebi on 16/1/08 to enter the capital market with an IPO of 45 lakh equity shares (consisting of a fresh issue of 35 lakh equity shares and an offer for sale of 10 lakh equity shares by Yamini suppliers), of Rs 10 each at a price of to be decided at a later stage. The issue comprises of 44 lakh shares to the public and a reservation of 1 lakh shares to employees of the company.
The company proposes to list the shares on BSE and NSE. The BRLMs to the issue are SPA Merchant Bankers & IndiaInfoline.
The objects of the issue are to raise funds to part finance the company's capital expenditure of Rs 23.58 crore, overseas acquisitions of Rs 21 crore and for long term working capital resources of Rs 44 crore.
Incorporated in 1993, the company offers services to telecommunication equipment manufacturers, telecom operators as well as third party infrastructure leasing companies in installing and maintaining telecom network equipment & infrastructure.
The company, in the process of creating a total solution, undertake initial feasibility studies, prepare strategies and undertake engineering, electronics, construction, installation, integration and maintenance of network components of its customers. The company is also registered with DoT as infrastructure provider. The company undertakes turnkey projects, provides management expertise to clients for infrastructure creation and installation for telecom sites which includes passive infrastructures like towers, telecom shelters, backup power - DG sets, battery banks, electrical infrastructure and earthing stations etc.
As on 30th September 2007, the company was executing various works for its clients worth Rs. 44.60 crore This includes works for Nokia Siemens Networks Pvt. Ltd., ZTE Telecom, Bharti Telenet, Motorola and Ericsson. The company has also done projects for Lucent, Nortel, Alcatel, Reliance, TTL, BSNL, IDEA, etc. Further, Quipo Telecom Infrastructure has intended to enter into a formal contract with the company for execution of projects for supply, planning, installation and commissioning of passive infrastructure to be developed by them for leasing out to telecom operators. The estimated value of the work is Rs. 287.50 crore.
The company plans to set up a tower manufacturing facility in India with an investment of Rs 15-18 crore for which it has shortlisted two locales, one in Uttaranchal and another in Jammu and Kashmir. It is also looking at offering its services in South Africa and the Gulf.
For the year ended March 31-2007, the company reported an income of Rs 63.80 crore and net profit of Rs 13.42 crore as compared with an income of Rs 48.56 crore and net profits of Rs 5.09 crore for FY06. For 6 months ended September 30, 2007, the company posted an income of Rs 38.57 crore and net profits of Rs 7.37 crore.