TOPSGRUP to acquire UK company; plans IPO within 2 years

Mumbai, Aug 16 (UNI) TOPSGRUP, a conglomerate of nine companies and a specialised division offering total security solutions, today announced it was soon acquiring U K based leading security company and plans to enter the capital market within next two years.

''We have identified a leading british security company for acquisition and may complete the necessary formalities within a a month,'' TOPSGRUP Chairman and Managing Director Dr Diwan Rahul Nanda said.

TOPSGRUP, leading security company, engaged in providing security solutions to the corporates and financial institutions, had today received a private equity investment of Rs 140 crore from ICICI Venture and Future Capital Holdings (FCH).

''We are planning acquisitions worth Rs 250 crore in the two years of time now, before entering the capital market''Dr Nanda told UNI.

The company, which had a human capital strength of 50,000 personnel at present, may be taking it to 75,000 soon, offering jobs to 25,000 more people during the year, he said.

TOPSGRUP also plans to make its presence in United States, and other countries besides UK, Dr Nanda said.

The private global security industry, valued at USD 140 Billion and growing at Compounded Annual Growth Rate (CAGR) of 9 per cent and the Indian private security industry valued at Rs 4000 crore growing at 21 per cent CAGR, offered great potential for the growth of TOPSGRUP, Dr Nanda said.

UNI