Analytics firm Object Technology Solutions India plans to float IPO in the next two years

Hyderabad-based data analytics solutions provider Object Technology Solutions India (OTSI) is planning for an initial public offering (IPO) within the next two years, chief executive officer Chandra Talluri told Moneycontrol.

In the recent past, the company has been credited with developing Niti Aayog’s National Data Analytics Platform (NDAP), setting up a business intelligence, data mining and analytics unit for the ministry of corporate affairs (MCA), and working with the defence forces for their requirements.

Chandra said that the company has been growing organically, and before the IPO, it also plans to make inorganic growth by acquiring two companies. "The company grew about 23% from 20-21 to 21-22. But for the Q1 of 21-22 to Q1 of 22-23, we grew by 42%," Talluri said.

With these proposed acquisitions, the firm is aiming to upscale and diversify its services. Currently, the services provider has offerings in digital transformation, quality assurance, automation, and emerging technologies such as blockchain.

Apart from that, Talluri said that the company plans to increase its employee count from 2,000 to 5,000 before the IPO.

However, he remains cautious. “We don’t rush our plans,” he said, taking into cognisance how recent IPOs of internet companies have fared in the market.

Recently, nearly a year after a stellar debut in the market, Zomato’s shares slipped in the red after the board approved the acquisition of Blinkit. Similarly, in March, Paytm’s shares fell to an all-time low.

Meanwhile, Talluri said that currently NDAP, which is a platform developed to make data accessible for citizens, has 200 datasets derived from 30,000 sources. He plans to increase the number of datasets to 400.