ITC Limited is planning to come out with a public issue
for its information technology (IT) business, ITC Infotech,
and hive it off as a separate company over a period of
time, its chairman Y C Deveshwar said.
(ITC Infotech) is structured as a separate company, not
as a division. That''s the only business that we structured
as a separate company. That indicates that at a point
of time, we could (take ITC Infotech public)," he
said on the sidelines of a conference organized by CII.
however, said nothing is on the anvil as of now, but added
that every other business is a division and the reason
for structuring ITC Infotech.
is planned as of now", Deveshwar said, adding, "But
we don''t know yet whether that (making ITC Infotech public)
is the right route. But if we did want to, we could".
Infotech is a $64 million company with a headcount of
over 4,200 employees. The Tier-II firm competes with the
likes of the global service providers like HP, IBM and
Accenture and also tier-one Indian players for enterprise
system integration solutions, infrastructure and testing
of its clients include British American Tobacco, Abbey
National Bank, Finnair, DHL, PTC and Unilever. Around
five per cent of the company''s revenues come from ITC.
company has a joint venture with Client Logic, which provides
technical support and voice-BPO services to clients worldwide.
ITC Infotech has offices across the US, UK, Europe and
Asia Pacific, and delivery footprint across 42 countries.
February this year, the company was ranked amongst the
top 10 specialty application development providers'' in
the 2007 `Global Services 100'' listing. The company has
now featured in this annual listing of Top 100 Global
Service providers consecutively for three years.
Last May, the company ramped up its presence in the US
by strengthening its sales and marketing efforts. Having
notched $64 million in revenues last fiscal, the company
is hoping to outpace the industry growth with a CAGR of
85 per cent.
Besides banking, financial services and insurance (BFSI),
the company focuses on three other verticals its
parent company ITC''s
own businesses-travel and hospitality, consumer packaged
goods and retail, and manufacturing. ITC Infotech also
has an advanced technology division that works on incubating
technologies and processes. It is now also focusing on