Servion considers IPO in 18 months

Tuesday, 23 September 2003, 07:00 Hrs
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NEW DELHI: Chennai-based business response solutions company, Servion Global Solutions is considering an initial public offering (IPO) in the next 18 months.

"The board is toying with the idea of listing. However, no merchant banker has been appointed to decide on the modalities and in the next 12-18 months, it is likely to happen", S Madhavan, head, global practices, Servion told PTI while adding the decision on local or overseas listing had not yet been taken up.

The company is aiming a growth rate of 40 per cent during the current fiscal. It had a revenue of $10 million in the last fiscal.

"We are targeting a growth rate of 40 per cent during the current fiscal", he said and added the company was also planning to change its revenue mix by adding more focus products.

"Last year, we had product revenue of $1million which is less than 10 per cent and this year, we hope 20 per cent from products. We plan to take it to 30 per cent in the next fiscal", he said while adding the company is also including new products to its portfolio like expanding CTI (Computer Telephony Integration) to go multi channel via e-mail, web and mobile phones.

Servion is also developing outbound call centres applications and building third party integration like CRM, Workflow Management, he said.

The company is expecting 50 per cent of the product revenue from India, Madhavan added.

Source: IANS
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