HeroITeS plans IPO; to double headcount

HeroITeS will float its initial public offer (IPO) within the next 18 months, besides doubling its headcount in the coming year.

The company, which today announced its spin-off from the Hero group, is looking at acquisition opportunities in the US market.

"The company will float its IPO next year and is also looking at hiring 1000 people in the coming one year, " said Sunil Munjal, chief executive officer and managing director, HeroITeS.