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Power2SME Plans To Go Public In 2018-19 By IPO

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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Now GreenSignal Bio Pharma IPO bidding has been withdrawn from market due to lack of response.

After GreenSignal Bio Pharma IPO, Sheela Foam Ltd IPO is going to be active in market from November 29- December 01. While Laurus Labs IPO will also hit market from Dec 06 – Dec 08.

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.

Some SME IPO will also be active in market in coming week.

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