Xenitis IPO : Xenitis Infotech plans IPO
Xenitis IPO : Xenitis Infotech plans IPO
Xenitis IPO : Xenitis Infotech Ltd (XIL), one of the leading PC and hardware component manufacturers in India, has applied to Sebi for tapping the capital market with an initial public offering (IPO) later this fiscal. The company has claimed in the draft red herring prospectus that the issue is first of its kind in the country. XIL is the hardware arm of the Xenitis group which has presence in two wheeler and cellular industries as well.
“There is no comparable company in India that manufactures hardware component in bulk for others. Only few Chinese and Taiwanese companies can be compared. The nearest competitor going by the performance is Compucase Enterprises of Taiwan,” sources close to the development said. Xenitis chairman Santanu Ghosh earlier said that it has already entered into supply agreement of hardware components with 24 domestic PC manufacturers, which could translate into 42% marketshare in the Indian market.
According to sources, Xenitis Infotech has achieved a CAGR of 195% for last four years. The company has posted a turnover of Rs 621 crore in 2006-07 from a meagre Rs 8.2 crore in 2002-03. In the first half of the current fiscal it has posted Rs 430 crore turnover with an earning per share of over Rs 14.42.
According to sources close to development, Xenitis has appointed Yes Bank and Anand Rathi Securities as the lead managers to the issue.
