With more telecom specific projects being added to its kitty, Ahmedabad-based Sai InfoSystem Ltd. (SIS) is in the process of revising its initial public offering (IPO) plans. The IT solution provider is expected to file the DRHP for the upcoming IPO by third quarter this financial year and is revising the target amount to be raised through the capital market.
"Earlier, the IPO was planned around the video telephony project. However, with more projects coming up, we are revising the target amount that we intend to raise. We will be filing the DRHP by third quarter in the financial year 2010-11," said Balkrishna Sharma, vice president (finance and acquisition), Sai InfoSystem Ltd.
With SIS grossing a group turnover of about Rs 1,100 crore, the company is planning to invest further in R&D as well. According to Sunil Kakkad, chairman and managing director, SIS Group of Companies, the IT solution provider is working on a 10-inch notebook that will assist its video telephony technology apart from offering computing operations.
Talking about the corporate performance of crossing the Rs 1,000 crore turnover mark, Kakkad said, "SIS group has crossed a turnover of Rs 1,000 crore from its system integration, manufacturing, retail and other IT services businesses. Today we have the technology to enable any wireline telecom or ISP network in the world with next generation video telephony capability."
SIS also unveiled a whole new range of various model of its video telephones as well as high definition IP phones which are independent of operator, can be used with the service of any telecom service provider.
