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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10258)	12/23/1999 10:52:00 AM
From: Mohan Marette	Respond to of 12475

Wintech Computers plans to tap the market with IPO Wintech plans to cash in on the current infotech boom at bourses winglobe.com Mumbai, December 23: Computer education firm Wintech Computers is planning to tap the market to raise at least Rs 100 crore in the first quarter of the next fiscal. "We are planning to make an IPO (initial public offer) of at least Rs 100 crore after merging all the companies in the group," the Chairman and Managing Director Murtaza Mithani said. The group, which has another three companies -- Wintech Software Solutions, Wintech Placements and Wintech E-Commerce -- in its fold, is expecting to post a turnover of Rs 145 crore for the year ending March 2000 against Rs 10 crore mostly from its education division last year, he said. Wintech earned a revenue of Rs 80 crore during the first nine months of the current fiscal, he added. The company has 78 education centres including 12 of its own. It has signed several agreements with franchisees in the last two months for launching 100 new centres next month in the states of Delhi, Haryana, Uttar Pradesh, West Bengal, Bihar, Punjab, Andhra Pradesh and Kerala, he said. "By next march-end, we are planning to expand the centres to 300 in a phased manner," he added. Under the "satellite franchise" model adopted by the company, centres would be run by it for ensuring the quality of staff, and the franchisees would be offered a 15 per cent commission on gross revenues for their investment in the projects, he said (aaj thak)