Power2SME Plans To Go Public In 2018-19 By IPO:
B2B e-commerce firm Power2SME has said it plans to go public in 2018-19, having achieved break even last year.
The company’s revenue has grown three times in the current financial year from Rs. 341 crore in 2015-16, CEO R Narayan told a leading newspaper.
“We are on track to go over Rs. 1,000 crore by March 2017; we broke even in November 2016. For 2017-18, our focus is to become profitable and get compliant and build infrastructure as we hope to go public in 2018-19,” Narayan said.
This makes Power2SME among the first online retailers operating in B2B segment to break even.
Narayan attributed this primarily to two factors that he said are essential for a B2B firm. “It is important to have high order volumes, averaging Rs. 20-30 lakh, and to have a high repeat rate to be successful in this segment. We have a repeat rate of 85-90%,” he said.
Set up in 2012, the company has 50,000 registered customers at present and focuses primarily on manufacturing sector.
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BSE IPO (Bombay Stock Exchange IPO) is going to ht market from Jan 23- Jan 25. Current Grey Market Premium (GMP) of BSE (Bombay Stock Exchange) is Rs 125 – Rs 127 per equity share.
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