Pavankumar Kuchana, Chairman and Managing Director, Taksheel Solutions, Information or Old story.
Pavankumar Kuchana, Chairman and Managing Director, Taksheel Solutions, holds Bachelor's Degree in Electronic and Tele-communications from Nagpur University and Masters in Computer Science from City College of New York. Prior to joining the company, he founded IBSS Inc in New Jersey in 1995. In the year 2000, he became Director of the company and in the year 2006, he was appointed as the Managing Director.
Taksheel Solutions Limited (TSL) is a comprehensive IT Solution Company focused on providing products and services for the companies engaged in financial services industry & Telecom. Headquartered in Hyderabad, with an office in North America, the company provides professional IT services to global clients. The Company than evolved to emerge as a specialized solutions provider offering Wealth Management Technology Solutions, Telecom Solutions, Business Intelligence, Data Warehousing, Application Development and Application Maintenance.
Speaking with Yash Ved of IIFL, Pavankumar Kuchana says, “We have earmarked Rs 220mn for acquisition of mid-sized IT firm in the wealth management space in US.”
How was the response to the IPO?
The IPO was subscribed 2.95 times. The total bids received stood at 16,430,220 shares as against the total issue size of 5,500,000 shares.
The Company had fixed the price band at Rs 130 to Rs 150 per share.
PNB Investment Services, a unit of Punjab National Bank (PNB), was the book running lead manager.
The company was planning to raise Rs 800mn via the IPO.
Brief us about your expansion plans?
The Company plans to use the IPO proceeds for setting up of a new software development centres at SEZ inHyderabad and Warangal, acquisitions and other strategic initiatives, financing the incremental working capital requirements and to meet the general corporate and issue expenses.
Tell us about your geographic spread?
The company already has presence in India and New Jersey. It is now planning to expand operations in Asia-Pacific markets and Middle-East countries.
What are your acquisitions plans?
We have earmarked Rs 220mn for acquisition of mid-sized IT firm in the Wealth management space in the US.
What is the revenue mix?
About 50% of our revenue comes from Wealth Management Solutions and remaining 50% comes from Data Warehousing & Business Intelligence.
Brief us about the financials?
For the year ended 31st March, 2011, the turnover was at Rs 1472.6mn, while the net profit was stood at Rs 274.1mn.
The Pre-issue Net worth as on March 31, 2011 was Rs 906mn and the Earning Per Share (EPS) as on March 31, 2011 was Rs 16.51.
What are your hiring plans?
Our current employee strength stands at 70. We are planning to create development centers in Hyderabad and Warangal that can seat up to 500 people.
Know more about Mr. Pavan Kuchana at : Taksheel Solutions.
Source: IIFL
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