Press Trust of India / Chennai September 20, 2005

Bahwan Cybertek, an IT products and services firm, is planning an initial public offering (IPO) by the end of the next financial year to raise funds for expansion.

“We have also chalked out a $5 million plan to establish a 1200-seat facility at Thoraipakkam on the city outskirts," S Durgaprasad, director and CEO of Bahwan Cybertek, said.

Bahwan currently employs about 250 people in India, which would be increased to 800 during the next financial year. "The headcount is expected to go up further to 1,200 when the company moves into the new facility," Durga Prasad said.
He said revenue would touch $45 million this fiscal - a growth of 225% from the last fiscal