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Professional Couriers plans IPO

HYDERABAD: The Professional Couriers, which became the first ISO9001:2000-certified Indian courier company, will be going public towards the end of 2009.

The company, which clocked a turnover of Rs. 400 crore in 2007-08, is planning to take on lease six cargo aircraft after the initial public offering.

Addressing a press conference here on Wednesday, Thomas John, Managing Director, said the company was targeting a turnover of Rs. 500 crore in the current fiscal.

At present, the company had taken up reverse-merging in North India — acquiring the franchisee companies — by investing Rs. 25 crore.

Mr. John said the company would open its first international office in New York next month, followed by offices in Dubai, Singapore and London before October. For this, a subsidiary, Professional International Couriers Pvt Ltd, was established.

The company was in negotiations with an Australian air cargo company for taking an aircraft on lease.

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