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Aegis plans $400 mn IPO next fiscal
Zohra Chatterji, Chairperson and Managing Director of Coal India said that the company will have to evolve a new strategy to deal with the PMO decision.
16 Feb 2012, 09:31 PM IST 
Irate passengers at a closed Kingfisher Airlines counter, Mumbai airport - Source: AP
Essar Group's fully owned back office services subsidiary Aegis plans to raise around $400 million through an initial public offering (IPO) during the next financial year, a senior company official said today.
"We may list in the US, Britain or India. We are also working to attract private equity investment before the listing, through which we plan to raise $300-400 million. The investor should bring in strategic value to us," Aegis chief executive Aparup Sengupta said on the sidelines of the Nasscom Leadership Forum.
The money will be spent on its business expansion plans as well as research and development, he said.
“Our revenues will touch $1 billion by this March. Our bankers told us that would be the right time to do a listing," he said.