The Hindu : Business : Allsec to expand

Online edition of India's National Newspaper
Friday, Apr 15, 2005

Business

Business

Allsec to expand

Corporate Reporter

CHENNAI: Allsec Technologies, a BPO service company, is setting up a 1,000-seat facility in Chennai, as part of its expansion plan. At present it has three delivery centres in Chennai having a total of 700 seats and an employee strength of 1,400.

Addressing presspersons here on Wednesday in connection with the initial public offer of equity shares of the company, A. Saravanan, Director and President of the company, said the outlay on expansion was estimated at Rs. 38 crores. For raising the needed resources the company has come out with a public issue of 31.41 lakh equity shares of Rs. 10 each through the book built process. It has set the price band at Rs. 135-162 per share. The issue is open from April 13 to 20.

According to Jagadish Ramamoorthi, Director and CEO, the expansion scheme was already being implemented at the company's facility here with a bank loan of Rs. 10 crores. Though the existing capacity was 700 seats the utilisation level was 180 per cent and even after the expansion the company hoped to maintain this level, he said.

Currently Allsec has ten clients which are either U.S. corporations or their Indian subsidiaries. CompuCredit is the major client contributing significant business volume to Allsec.

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