Excel Infoways plans to raise money for expansion

Lakhmendra Khurana, CMD of Excel Infoways, in an interview with CNBC-TV18's Reema Tendulkar and Ekta Batra, spoke about the recent happenings in his company and the road ahead.

Below is the verbatim transcript of the interview. Also watch the accompanying video. Q: You have opened a QIP. Could you tell us how much you are planning to raise and how much of a dilution would that entail?
A: Dilution and purpose of QIP is for expansion of IT and IT related infrastructure. Q: What is the total amount that you are planning to raise?
A: The total amount is around Rs 25-30 crore. We have taken permission up to Rs 30 crore. Q: How will these proceeds be used for the company?
A: We have taken the permission to raise Rs 30 crore and up to 1 crore 10 lakh shares will be issued. Q: How will you use the money in the company?
A: For expansion. Q: Do you have any debts on your book currently?
A: No. Q: When you do undertake this expansion plan? When would the revenues from the expansion plans come in? How would your capacity increase? What is the balance sheet impact of this expansion plan?
A: We have taken land in Borivali. Many institutions are interested in our company.