Sai Info plans Rs 100 cr IPO

Ahmedabad-based Sai InfoSystem (India) Pvt Ltd (SIS), which has set a target of Rs 200 crore as consolidated investment till 2009, is looking to raise funds in the region of Rs 50 crore to Rs 100 crore through venture capital or private equity.

A manufacturer of servers, networking products and software solutions, SIS is yet to begin talks with venture capitalists and private equity players.

Among other options, the company might also go for an initial public offering of Rs 100 crore in the financial year 2008-09 , said Sunil Kakkad, chairman and managing director of SIS, on the sidelines of the launch of 'SIS Blade Server', an in-house developed blade server.

"The SIS Blade is a server chassis housing multiple thin, modular electronic circuit boards, known as server blades. A blade server is a computer on a motherboard, which includes processor, memory, and sometimes storage," said Kakkad.

The server, which is priced between Rs 5 lakh and Rs 25 lakh, is expected to bring down power costs by 40 per cent. Targeted at enterprises with huge IT infrastructure, Kakkad hopes the product would increase the company's turnover to Rs 350 crore in 2007-08, as against Rs 234 crore in the previous year.

The company is also looking at having a global presence in at least 15 countries including the US and Europe by 2010. SIS has also set a target of Rs 1,000 crore turnover by 2010, apart from being a dominant player in IT retail and gaming.