WeP Peripherals looks ahead at listing

 Hence it is contemplating going in for an IPO next year if market conditions remain positive.

 Return to shareholders is important to WeP Peripherals (the peripherals division of Wipro which demerged in September 2000) despite being unlisted because it the largest employee owned company in the country.

 For these shareholders, the interim buyback arrangement (in the absence of liquidity through listing) at Rs 26 per share of Rs 10 offers a 30 per cent per annum return on investment.

 In these three years WeP Peripherals has generated Rs 30 crore of free cash after investment, repaying a Rs 10 crore obligation to Wipro and redeeming preference shares of Rs 10 crore. In 2002-03 consolidated turnover touched Rs 199 crore and profit after tax Rs 4.2 crore.

 Ram Agarwal, managing director and CEO, describes the last three years as