Tanla charts Rs 250-crore spread

Tanla Solutions Limited, a wireless messaging solutions provider, is embarking on a Rs 250-crore expansion plan.

This includes setting up of a campus on the outskirts of Hyderabad, sales offices in the US, Canada, Australia and Singapore, and development of new products.

The company is, therefore, raising funds through further issue of equity shares. The present equity capital of the company comprises 68,23,000 equity shares of Rs 10 each. The management of the company proposes to split its shares of face value of Rs 10 each into five equity shares of face value of Rs 2 each.

Speaking to Business Standard, Akash Rukhaiyar, chief financial officer of Tanla Solutions, said, "We will be setting up a campus at Nanakramguda that will be able to house 3,000 people. This should be ready in two years. Besides, we may set up a delivery centre in Bangalore."

According to a media statement, Tanla Solutions receives 95 per cent of its revenues from the UK and the APAC region. It plans to establish its footprint in Europe and North America by March 2006, and connect to the principal mobile network operators in the US, Canada, Australia, Sweden and Germany by December 2006.

Tanla Solutions' clients include Pipe-Media, mBlox, Airtel, Hutch, BPL Mobile and Hero Honda among others. It registered sales of Rs 12.51 crore and net profits of Rs 7.36 crore in Q206 with EPS of Rs 10.79 on the current equity base.