NeST Group plans global expansion

Kerala-based NeST Group, a player in IT and allied industries, is focusing to achieve the status of a billion-dollar company by 2009.

The group has unveiled plans for global expansion in tune with the target of $1 billion turnover within the next three years, Javed Hassan, chairman of the company, said.

Addressing a press conference here today, he said the company had decided to enter the capital market for raising funds for global expansion within the next 12-18 months.

"The company has yet to finalise the details of its entry into the market. Our company has expanded during the last 15 years by internal accruals only. But we now opt for capital market to mobilise a couple of million dollars. It will be either a public issue or the GDR route", he added.

The group would foray into new sectors like healthcare and medical equipment manufacturing and transportation, he said.