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Aptech raises Rs 1.18 billion through private equity

''We have already raised the money through private equity issue of Rs 118 crore (Rs 1.18 billion)'', Aptech Managing Director Ganesh Natrajan told reporters in New Delhi.

T O D A Y

• Justice Sodhi interview • MTNL cuts Net rate • Citibank's Web service • Aptech raises funds

The company would spend Rs 640 million on opening up 150 education centres all around the world and the rest of the money would be spent on its software development activities.

IT training and education would continue to be the focus area for the company. This area contributes to as much as 80 per cent of the company's business and the ratio would remain the same.

Natrajan said the new centres would come up in the USA, Africa and Europe.

With implementation of its various plans, Aptech would increase its business volume to Rs 10 billion in the next four year from Rs 2.8 billion. Natrajan said he would not be able to make any projections for the current financial year because of the stock market guidelines.

In the field of education, Aptech would invest in new technologies in multimedia. ''Major initiative will be on online education. We will set up server farms which will act as hubs for online education,'' Natrajan said.

He said the company would continue to forge alliances with various universities around the globe for education. It has already forged alliances with Regents College, America's first virtual university, Manipal Academy of Higher Education and Bangalore University.

Without giving details, Aptech Managing Director said the company would be able to reduce its debt-equity ratio.

''While we do not intend to be a debt free company, you will see reduction in debt-equity ratio right in the first quarter,'' he said.

UNI

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