CSS Corp mulls IPO in India

CHENNAI - The $135 million US based information technology (IT) company CSS Corp is mulling an initial public offer (IPO) sometime in the future in India, said a top company official.

“We can list the company in London, US or in India. However initial listing will be in India,” CEO Nick Sharma told reporters here Monday inaugurating a new centre and unveiling a new brand identity for the company.

The company is backed by financial institutions like Goldman Sachs, Sierra Ventures and SAIF Partners.

According to Sharma the company hopes to become a $250 million revenue outfit by 2012 with a mix of organic and inorganic expansions. The company completed three acquisitions during the last one year.

Earning nearly 85 percent of its revenue from the US markets, CSS Corp intends to reduce that figure to 65 percent by growing in markets like Europe and Asia Pacific.

Speaking about the new centre inaugurated here he said the company has invested around $5 million in the leased facility and would move around 2,500 of its employees there.