New DelhiUS-based Techspan Inc, promoted by HCL Technologies' co-founder Arjun Malhotra, is planning to go public by January 2001 and is currently in consultation with Goldman Sachs for reviewing both Indian and overseas listing options for the same.``The company is looking at going public within the next six months and considering both Indian and overseas listing options,'' Arjun Malhotra, chairman and CEO of Techspan said.
Techspan, which has sixty per cent of its equity with Goldman Sachs and Walden International Investment Group is likely to firm up the listing proposal at the company's board meeting in September, he said.Elaborating on listing plans of the company, Malhotra said that the company would dilute only about 10 per cent stake to the public.
He, however, declined to comment on the size of initial public offering (IPO) saying the same would be fixed following the valuation of Techspan.Since the company and its promoters had established their credentials in the Indian market listing on Indian bourses was an atttractive option for the company, he said. The company is also planning to invest upto $7 million this year for expanding its operations including setting up of a competence development centre (CDC) to develop wireless technologies in the country, he added.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.