RADIANT INFO SYSTEMS

By Research Desk
about 11 years ago
RADIANT INFO SYSTEMS

 

 

Bangalore-based Radiant Info Systems have filed its DRHP on 1st August , 2008 with SEBI to enter the capital market with an IPO of 65.07 lakh equity shares of Rs 10 each at a price to be decided  at a later stage through the 100% book building process.

The net issue would constitute 31.85% of the fully diluted post issue paid-up capital of the company.

 

The company proposes to list its shares on BSE and NSE and its BRLMs to the issue are IL&FS Investsmart Securities and Saffron Capital Advisors.

 

The objects of the issue  is to raise funds for acquisitions; to set up a Software Development Centre in Bangalore  and for working capital requirements.

 

The company proposes to use Rs 40 crores, out of the issue proceeds, for the proposed acquisitions; Rs 46.94 crores for setting up  the Development Centre and Rs 16.28 crores for working capital requirements.

 

Radiant Info Systems is engaged in the business of providing a range of information technology solutions to companies  worldwide. Primarily, the company's focus is on verticals of logistics and transportation, pharma and healthcare, telecom and e-Governance. The company has obtained registration as a STPI unit under the Software Technology Park scheme.

 

The company also have presence in the US and UK through its subsidiary Radiant Systems Inc.

It provides IT solutions to counties, State governments and Federal Government in the US, through an onshore-offshore delivery model.

The company now has embarked on a major expansion of its centers in India.

 

The company has planned to grow its India headcount from 350 to 5,000 people within the next two years at its development centres in Bangalore and Hyderabad. Apart from these centres, the company is planning another centre in the North with an investment of up to $10 million (Rs 45 crores).

The company has bagged two major e-Governance projects in the country - Avatar and Rajiv Internet Village project.  The Rajiv Internet Village project that would come up through public private participatory model, with local franchisees, envisages setting up of 5,500 Internet kiosks in Andhra Pradesh. This Rs 70-crore project coming up under the Build-Own-Operate model, will be supported by local entrepreneurs. Radiant will get transaction-based fees, the details of these are being worked out.

Net sales for the year ended March 31, 2008 was at Rs 27.82 crores as against Rs 15.76 crores for the year ended March 31, 2007. Net profit for the year ended March 31, 2008 was Rs 8.45 crores as compared to Rs 2.66 crores for previous year ended March 2007.

 

 

 

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