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 Integrid eyes acquisition; targets Rs. 400 cr. turnover
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11-02-2008, The Hindu
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Mumbai (PTI): Marketing services company, Integrid Media, is embarking on a massive expansion programme, through the inorganic route and is targeting a turnover of Rs 400 crores by 2010.
"We have an aggressive growth plan and we are targeting a turnover of Rs 400 crore by 2010," Integrid Media's Managing Director and CEO Anil Mishra told PTI.
At present, the company's turnover stands at Rs 40 crores.
"Our plan is to go for acquisition of other media houses within the country," Mishra said adding that the company plans to raise around Rs 250 crores mid-this year to fund its expansion plans.
Various methods of raising resources are being discussed he said, adding "we are open to all options of funding like venture capital and private equity. If necessary we might also come out with an IPO."
Recently, Integrid raised around USD 10 million through the private equity route, Mishra said. This funding would be invested for the company's out-of-home business, Internet and ad networks, event-activation and promotion and ad sales.
The company's order book position for 2008-09 stands at Rs 107 crores.
Going by its present rapid growth combined with its expansion plans in ad sales, internet and activations, "we are confident of touching the Rs 400-crore turnover mark," Mishra said.
"Integrid Media intends to provide value addition and integration amongst various media vehicles in the same environment to clients for them to derive maximum mileage out of an advertising opportunity," he added. |
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