G Tec computer education plans IPO in next 2 years

G Tec Computer Education, the software training arm of Calicut-based Glosoft Technologies Private Ltd, plans to list itself in the stock exchange within next two years, said Mehroof I Manalody, chairman and managing director (CMD) of the institute.

“We are planning to go for an IPO (Initial Public Offering) in next two years. G-Tec will set up its own university soon. For that we need more funds and hence the IPO,” Manalody told newsmen here.

Currently the revenue income of the company is about Rs 8 crore per annum and this is expected to grow exponentially once it expands its operations from southern India to other parts of the country.

“We are now doing well in South India as far as computer education is concerned. Our market share is 90% in the region”, he claimed.

The company will provide globally recognised software certificate courses at affordable prices and for that, it will primarily target tier two and tier three cities, he said.

The computer training company, which provides more than 200 courses starting from basic computers to Microsoft, Sun certified professional programmes, is ambitious about its growth in Orissa and hopes to set up 100 centers in the state.

“We have got around 200 confirmations from applicants who are willing to join our franchise seminar. We hope to set up around 100 centers in the state,” said Asit Kumar Sahoo, regional director of the company.