Telecommunications Consultants India Ltd, a public sector undertaking, may come up with an initial public offering in the near future.
The chief managing director G D Gaiha said that the board of the company had passed a resolution to launch an IPO of 25 per cent of the paid-up capital of the company. The proposal is now under the consideration of the department of telecommunication.
The paid-up capital of the company as on March 31, 2003 was Rs 144,400,000. The company had started 25 years back with a seed capital of Rs 10 lakh (Rs 1 million).
Gaiha said that based on the response to the IPO, offerings in the American market through American Depository Receipts would be considered.
TCIL hopes to mop up Rs 400 crore (Rs 4,000 million) from the IPO. The money will be utilised for the company's expansion programmes especially overseas projects in Kenya and Kyrghyztan.
