| ITC Infotech could go public: Deveshwar |
| BS Reporters / Bangalore/Mumbai March 23, 2007 |
| ITC Infotech, an IT services company and fully-owned subsidiary of ITC, is planning to go public. Although no date has been finalised as to when the company is planning to hit the capital market, Y C Deveshwar, chairman, ITC said the company may opt for the bourses `at some point of time'. "ITC Infotech is structured as a separate company, not as a division. That is the only business that we structured as a separate company. That indicates that at a point of time, we could take ITC Infotech public," Deveshwar said here on the sidelines of an event organised by the Confederation of Indian Industry on Friday. The reason for structuring ITC Infotech as a separate company was that, over a period of time, the company would like to have the option of remunerating its people in the same of as the industry practice. "But we don't know yet whether that (making ITC Infotech public) is the right route. But if we did want to, we could," he added. ITC Infotech is a $64 million company with a headcount of over 4,200 employees. The tier-II firm competes with the likes of the global service providers like HP, IBM and Accenture and also tier-one Indian players for enterprise system integration solutions, infrastructure and testing services projects. Some of its clients include British American Tobacco, Abbey National Bank, Finnair, DHL, PTC and Unilever. Around five per cent of the company |
