WeP Plans Countrywide Printer Network

Bangalore: | Updated: Aug 26 2002, 05:30am hrs
WeP Peripherals Ltd (the erstwhile peripherals arm of Wipro Ltd) is working at putting together a company-owned and -operated countrywide network of printers (to function more on the lines of a printing datacenter) aimed at meeting the printing needs of large multi-city office corporates.

...Eyes Acquisitions, Plans IPO

WeP Peripherals Ltd is all set to look at inorganic growth and an IPO is part of its ramp-up plans. The company has also gone in for a name change - WeP Peripherals Ltd - and will not carry the Wipro Branding (as part of the agreement during the spin-off) after 2003. The IPO will provide us with an exit option for investors and also currency for acquisitions. We have already initiated dialogues with small companies in the areas of storage/communication and convenience products for potential acquisitions, Mr Aggarwal said.
It has also become debt-free after having cleared itself of all loans as on Q1 ended June 30, 2002. The net cash reserves of the company on June-end stood at Rs 8 crore. WeP had a Rs 10 crore loan (debenture) from Wipro which it pre-closed and has also cleared its Rs 9.8 crore loan raised from investors through preference shares.

This is part of the companys plans to extend its Print and Save initiative to include other printing related services. In Print and Save, WeP offers corporates the option of placing a printer free of cost, managing and maintaining it while the corporate payas only for the number of pages it prints. The scheme currently has 80 unique customers across India and close to 300 installations of printers across Bangalore, Mumbai, Delhi and Chennai.

The new Network of Printers initiative is estimated to be kicked off by the end of 2002. In the case of this new initiative, we are looking at roping in corporate clients with significant printing requirements. They can use our network to print documents across their offices on our network backbone, and pay only for the number of prints they take. Once implemented, the company can even choose to print a document at their Bangalore office from their office in Delhi, WeP managing director and CEO Ram N Agarwal told eFE.