| 2.Redington(India):Crossing A Landmark New tie-ups helped Redington to cross the Rs 5,000 crore milestone, with a
growth of 19 percent in 2006-07. Its IPO, to raise Rs 150 crore, was
oversubscribed 43 times
Redington has had a good year, posting a turnover of Rs 5,022 crore in
2006-07. This was a 19 percent growth over the previous year's turnover of Rs
4068 crore.
One major reason for this growth was its tie-up with big vendors like Sun
Microsystems. Other vendor alliances entered into last year include Telelogic
for its lifecycle management software, Sonicwall for its security appliances,
Cyberoam for its unified threat management solution and Apple India for its
complete product range.
Of these, Redington has pegged high hopes on Apple products, especially in the
consumer electronics space.
But the highlight of the year for Redington was its IPO in Jan 2007, to raise
Rs 150 crore. The issue was oversubscribed 43 times. This makes it the second
largest IPO in the channel space in the last two years, after Tulip Services.
Besides this, the company also bagged some big government projects. These
include one from the Tamil Nadu ELCOT Project for supply to government schools
and departments and a project for the Punjab Schools' computerization order.
It undertook a VAT implementation project for the Bihar State Electronics
Development Corporation at Patna and also worked with the Indian Overseas Bank
to provide data-auditing solutions.
36 percent of Redington's business came from the sales of peripherals,
supplies and consumer PCs, while systems sales constituted for 22 percent.
Networking and enterprise solutions brought in 10 and seven percent
respectively, while the component business accounted for 17 percent.
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Profile
President-IT Division:
PS Neogi
Start-up year: 1992
Employees: 1,589
Address: SPL Guindy House 95, Mount Road,
Guindy, Chennai - 600032
Tel: 044-42243535
Website: www.redington.co.in
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HIGHLIGHTS
- Bagged projects from ELCOT, BELTRON and
BHEL
- Signed up Sun Microsystems, Telelogic,
Sonicwall, Cyberoam, Xbox and Apple India
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SILVER CLUB RANK (2005-06): 2 |
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