Mumbai, April 6: Datamatics Technologies — a non-voice BPO company focussing on transaction processing and content management — is entering the primary markets with an initial public offer.

The company today announced a price band of Rs 101-110 for the offering, which opens on April 12 and closes on April 19. It will offer 10.30 million shares of Rs 5 each at a price to be decided through the book-building route.

“We are much better placed than most other companies. We are seen as a US company,” said chairman Lalit Kanodia when asked if the BPO backlash would affect their prospects.

Almost 90 per cent of datamatic’s income is from abroad. And the company’s “dual shoring” model will enable it to avoid a backlash, he added.

Datamatics is one of the early entrants in the Indian BPO/Ites sector and has been spearheading the Datamatics group’s business activities in this sector for over 10 years.

The proceeds of the IPO will be used to fund existing business requirements, strategic initiatives and acquisitions as well as for investment in the company and its subsidiaries and associates. The company has earmarked Rs 14.6 crore for its subsidiaries and associates and Rs 12.1 crore for repayment of existing debt, capital expenditure and the balance will fund strategic initiatives and acquisitions.

Kanodia said that the company has hired Ernst & Young to scout for acquisitions.

The company has subsidiaries in the US, Germany and UK and the investments in will be in the form of working capital in the US and German subsidiaries while in the UK subsidiary it will be initial capital.

PTC listing

After being postponed twice, the scrip of Power Trading Corporation (PTC) will be listed on BSE on Wednesday, a release said.