The Chennai-based business process
outsourcing company, Allsec Technologies, plans to launch an
initial public offering (IPO) to raise near Rs 60 crore. The
issue is expected to hit the market in the first week of
April.
Founder and president Adi Saravanan said Rs 38 crore would be
utilised in setting up a 1,000-seat facility in Mumbai.
Around Rs 8 crore would be deployed as working capital and
the rest will be set aside for inorganic growth.
The Mumbai centre will be set up in three phases and is
expected to be completed by December 2005.
The first phase of 300 seats is expected to be completed by
June this year. This is the fourth facility from the company.
The other three centres have a total of 700 seats.
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