Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation
Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised trainin...
By Akash Podishetti, ETMarkets.com |
Agencies
Pune-based software company Vinsys has closed a pre-IPO round, in which marquee investors including Singapore-based NAV Capital Emerging Star Fund and Swiss-based xMultiplied participated.
Other star investors include Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments, among others who took part in the funding round that valued the company at around Rs 200 crore.
Earlier this month, the company had put out plans to go public and list on the SME exchange platform. Accordingly, it had also appointed Beeline Capital Advisors as the merchant banker for the public offer.
Pune-based Vinsys offers customised courses for sectors such as BFSI, telecom, and government departments, where training for IT and processes is essential. It has a team of over 800 professionals certified by major tech companies and institutions.
Currently, Vinsys operates in the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US.
As part of the expansion plan, the company said that it is actively seeking inorganic growth opportunities to expand its reach in new markets, including the US and the UK, while continuing to consolidate its position in the Middle East.
"We entered into a nascent industry, enabling us to offer clients customised modules as needed. In time, the company has ramped up its operations and invested in world-class training rooms and facilities with the sustained support of its clients, including global IT majors in Pune," Vikrant Patil, Founder and CEO of Vinsys, said.
Further, he said that Vinsys is confident to execute M&A transactions and integrate new firms.
"In addition to tapping inorganic growth opportunities, Vinsys is also looking to grow organically. Towards this, the company has already recruited business development teams in the US and is looking to do the same in Europe," Patil added.
For the fiscal year ending in March 2023, Vinsys achieved a revenue of Rs 157.30 crore and a net profit of Rs 16.02 crore.
Other star investors include Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments, among others who took part in the funding round that valued the company at around Rs 200 crore.
Earlier this month, the company had put out plans to go public and list on the SME exchange platform. Accordingly, it had also appointed Beeline Capital Advisors as the merchant banker for the public offer.
Pune-based Vinsys offers customised courses for sectors such as BFSI, telecom, and government departments, where training for IT and processes is essential. It has a team of over 800 professionals certified by major tech companies and institutions.
Currently, Vinsys operates in the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US.
As part of the expansion plan, the company said that it is actively seeking inorganic growth opportunities to expand its reach in new markets, including the US and the UK, while continuing to consolidate its position in the Middle East.
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"We entered into a nascent industry, enabling us to offer clients customised modules as needed. In time, the company has ramped up its operations and invested in world-class training rooms and facilities with the sustained support of its clients, including global IT majors in Pune," Vikrant Patil, Founder and CEO of Vinsys, said.
Further, he said that Vinsys is confident to execute M&A transactions and integrate new firms.
"In addition to tapping inorganic growth opportunities, Vinsys is also looking to grow organically. Towards this, the company has already recruited business development teams in the US and is looking to do the same in Europe," Patil added.
For the fiscal year ending in March 2023, Vinsys achieved a revenue of Rs 157.30 crore and a net profit of Rs 16.02 crore.
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