Yash Technologies to go for IPO by 2014
Yash Technologies, an IT consulting and services firm based out of Illinois (US), is planning to go for an IPO (initial public offering) in the next two years in India.
The move may happen once the company reaches total headcount of 5,000 employees globally, and record a revenue of $250-million by 2014, Balakrishna Navluri, chief operating officer, Yash Technologies Private Limited, said addressing the media at the launch of its global development centre (GDC) at Hyderabad.
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Currently, the company has a total headcount of 2,100 globally, including 1,500 in India, and its turnover for the year 2011-12 was recoded at $133 million. "We have been growing at 30 per cent year-on-year, and we expect the same growth to continue in the next few years," he said.
The company is positive about the Indian markets, and expects a good business coming from the domestic companies. "The e-governance projects are going on a full swing, along with many other big projects. We want to be a leading player in the domestic markets three years down the line," he added.
As part of expansion plans in India, it has plans to create local touch points across the country and has plans to add three more centres at Nagpur, Indore and Pune with a total investment of around $20-25 million. Currently, it has nine centres at Hyderabad, Bangalore, Indore, Mumbai and Pune.
The Hyderabad centre, spread across 125,000 sft area, has capacity to accommodate 1,300 employees. It has come up with an investment of Rs 18 crore.
The SAP solutions and training provider, Yash Technologies, currently has training centres at various districts in Andhra Pradesh including at Tirupati, Guntur and Hyderabad, to train students on business intelligence, Microsoft, and Java based solutions.