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Topsgrup plans IPO

NEW DELHI, MAY 27. The Rs. 100 crore total security solutions provider Topsgrup will soon come out with an initial public offer to fund its expansion.

"We have plans to go for an IPO in the next three months and list the company as the first security agency at the stock exchanges," Chairman, Diwan Rahul Nanda, told reporters here. Mr. Nanda, however, declined to provide the details regarding the size of the public offer and said minute details were being worked out. The company has clocked Rs. 9.50 crore profit before tax in 2003-04 against Rs. 2.30 crores in the previous fiscal.

PTI

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