Taksheel Solutions Information Technology firm taksheel solutions Rs 80 crore IPO has opened. In an interview to CNBC-TV18, Pavan Kuchana Chairman and Managing Director, Taksheel Company said, the taksheel company is raising Rs. 82 crore at the upper band and at the lower band Rs. 71 crore. Further, Rs 22 crore taksheel solutions will use for IPO proceeds for acquisitions.
- For Hyderabad Development Center, we are going to use around Rs.9.15 crore.
- For Warangal Development Center, we are going to use around 8.65 crore.
- 12.8 crore is for incremental working capital.
Below are some transcript of his interview with Latha Venkatesh and Ekta Batra of CNBC-TV 18.
Answer: We as a company we are using the money for expansion.
2. When do you see it becoming positive?
Answer : It is positive. It is positive from going on.
3. Can you tell us who your top clients are?
Answer: The clients that we are working with are LFG, Merrill. But we work with channel partners. We work with their prime vendors, but our relationship with clients is direct and where we deal with their business guys, technology guys. That is where the domain in technology we use it.
4. Can you tell us how much of your business comes from top two, top five clients?
Answer: Top two is around 28% and top five it is 60% and top ten it is 90%.
5. Considering that you are so closely related to the financial space, are you seeing some amount of budget cuts coming across, loss in clients etc?
Answer: Yes. Definitely, there will be a freeze or there will be little bit slowdown on the budget. Generally, we deal with fund managers, wealth managers. In our sector, what happens is whether the investment is in equities, mutual funds or fixed income products because the wealth management industry will not affect the way it will affect the rest of the sectors within the financial services.
