Xenitis plans Rs 250 crore IPO

New Delhi, Mar 17 (UNI) Kolkata-based Xenitis Group, owners of the sub Rs 10,000 Amar PC brand, today said it will come out with an initial public offering of Rs 250 crore by July-August this year.

''The money will be used to augment our manufacturing capabilities,'' Xenitis Infotech Managing Director Tathagatha Datta said here.

Mr Datta said the company will set up flat screen LCD monitors manufacturing unit at an expenditure of Rs 50 crore. ''We have tied up with the largest manufacturer in China, KTS, for the monitor business,'' Mr Dutta said.

He also said that the company plans to manufacture all the parts that go in to a personal computer except for the CPU.

Talking about the Amar personal computer, Mr Datta said the company was facing problems with the supply of mother board from suppliers.

''The suppliers are not showing much enthusiasm in supplying critical components for sub-Rs 10,000 PCs. They would rather support products that are a notch higher,'' he said.

Meanwhile, Xenitis Infotech has appointed Iris Computers as their national distributor. The tie-up will ensure the availability of all products from the Xenitis stable through the Iris Computers distributorship network.

UNI SR KP1903