XENITIS INFOTECH

IT company Xenitis Infotech, indigenous manufacturer of computer components and branded PCs has filed its DRHP with Sebi on 3^rd December ,2007. The company is planning to come out with an initial public offering to raise Rs 250 crore. It would dilute 30% of the equity.

The proceeds of the proposed public issue would be utilised for increasing the existing manufacturing capacity and for getting into new areas of production including monitors.

The BRLM to the issue are Yes Bank and Anand Rathi Securities.  The company proposes to list the shares on the BSE and NSE.

The Xenitis group has already pumped in Rs 150 crore in Xenitis Infotech, which has a capacity to manufacture two lakh PC components every month. This would double by March 2008.

After having consolidated its presence in eastern India, Xenitis Infotech Pvt Ltd has launched its range of personal computers and laptops in Maharashtra.

The company, which has forged a tie-up with a Chinese company to manufacture computer hardware in India, has plans to expand its footprint across the country. It has presence in select cities in western and southern India. The long term goal of the company is to facilitate product availability and set up service centres across the country. The company has also tied up with a TFT manufacturing company and will set up a separate facility for manufacturing TFT and CRT monitors.