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Nihilent mulls IPO route to growth

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CIOL Bureau
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PUNE: Nihilent Technologies is planning to take the IPO route to expansion.

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According to LC Singh, president and CEO, Nihilent, “We are currently evaluate various ways to raise capital and one of the most probable one is through listing the company.” He stated that the company could be listed in the next two years in Indian bourses.

Pune-based Nihilent, founded in 2000, closed last year with revenues of around Rs 45 crore. The company has recently gone for a change in focus from being a software services developer to a change management consultancy.

The company over a period of time has carved a niche for itself in the international space, including in South Africa.

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“The idea to target South Africa was a strategic move. We wanted to focus on smaller geographical areas and before making a bigger foray,” says Singh.

The strategy has paid off. Nihilent is now one of the top few Indian IT companies in the region. The company has clients like South Africa Revenue Services, SASOL and South Africa Airways in the geography.

Nihilent is also targeting domestic clients, mainly in the banking vertical. It is currently working with State Bank of India, IndusInd Bank and others.

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