IT hardware and electronics company Intex on Thursday said it may raise funds from the capital market or opt for a private equity investment.
"We want to diversify our holdings. It may be either through an initial public offer or a private equity placement. We have set no time-frame for diversifying our holdings," Intex Executive Vice Chairman Ramesh A Vaswani told reporters.
Intex wants to position itself as end-use products company from a mere computer peripherals player, Vaswani said. A few months ago, it entered the cell phone business.
"We source cell phones from China and we want to concentrate on rural market," he said.
Similarly, the company is looking for a foreign partner in a joint venture to start manufacturing audio products.
"Hopefully, the joint venture should happen in the financial year 2008-09. The ball has started rolling," he said.
The company has a factory in Jammu and Baddi in Himachal Pradesh. It would build the facility to manufacture audio products at one of these places near to its existing facilities, he said.
Intex has set Rs 380 crore in turnover for this financial year. Last year, its turnover stood at Rs 260 crore.
"We want to diversify our holdings. It may be either through an initial public offer or a private equity placement. We have set no time-frame for diversifying our holdings," Intex Executive Vice Chairman Ramesh A Vaswani told reporters.
Intex wants to position itself as end-use products company from a mere computer peripherals player, Vaswani said. A few months ago, it entered the cell phone business.
"We source cell phones from China and we want to concentrate on rural market," he said.
Similarly, the company is looking for a foreign partner in a joint venture to start manufacturing audio products.
"Hopefully, the joint venture should happen in the financial year 2008-09. The ball has started rolling," he said.
The company has a factory in Jammu and Baddi in Himachal Pradesh. It would build the facility to manufacture audio products at one of these places near to its existing facilities, he said.
Intex has set Rs 380 crore in turnover for this financial year. Last year, its turnover stood at Rs 260 crore.
No comments:
Post a Comment