Alpha Design Technologies, first private firm to build satellites for Isro, is planning to go public in the next six months.
The PE-backed medium enterprise will be investing major portion of the proposed Rs 400 crore in space business, which the Bengaluru-based company is betting big on.Speaking to Business Standard on the sidelines of International Seminar on Indian Space Programme, organised by FICCI and Isro, H S Shankar, chairman and managing director, Alpha Design Technologies said the company plans to raise around Rs 300-400 crore, of which at least 50% will go towards space research. The Bengaluru-based aerospace firm Alpha Design Technologies led a consortium to build a navigation satellite, Navic, earlier this year. The company said Isro's decision to open doors for private enterprises to build satellites and demand from global market, to build small satellites, will help the company, which is planning to become an end to end service provider in the next three years. “We are expecting around Rs 2,000 crore revenue every year from space business, both domestic and global markets,” said Shankar, who bided for Isro's proposed plan to let private firms to build 30 satellites. The company is strengthening the space business by recruiting around 900 people in the next three years and setting up a green field facility in Karnataka. Besides, building satellites the company is also planning to focus on ground segment, including setting up receiving terminals, antenna, last mile connectivity among others. As far as defence business is concerned, Shankar said in the next five years it will touch Rs 2,300 crore. Company's revenue is currently around Rs 400 crore and 10% of its profit.