Flipper Clipp seeks overseas equity fund of around Rs 5 crore
By Venkatachari Jagannathan | 04 Jul 2003
Chennai:
The city-based uninterrupted power supply (UPS) system
manufacturer Flipper Clipp Power Systems is on the lookout
for overseas equity funds to the tune of around Rs 5 crore.
According to Praveen Menon, director (sales and operations), the promoters are willing to dilute their holdings to the tune of 51 per cent in favour of the overseas investors. The company has recently opened an office in the US to seek technical as well as financial tie-ups.
The Rs 4-crore turnover Flipper Clipp is currently focusing on high-capacity UPS systems — over 10 Kva and up to 150 Kva. "We have a capacity to make three 150 Kva UPS systems per day," says Menon. The company is mainly present in the four southern states and Pondicherry apart from Mumbai and Gurgaon, near Delhi.
According to Menon, Flipper Clipp is the first company in the UPS industry to have a call centre. "Anybody who wants to buy an UPS can register with our call centre. The registered entities will then be eligible to have a two-year warranty period on their new UPS."
