To launch IPO, notebooks in August

Microcity India Ltd is planning an initial public offering (IPO) in

August, says its director Randhir Marwa. It also plans to launch notebooks priced between

Rs 60,000 to Rs 70,000 under its own brand simultaneously.

It is already in talks with vendors to source software as well as

hardware that could be bundled along with the Microcity brand of notebooks. "We have

no intention of selling an inferior product, just because we intend to sell at a lower

price," says Marwa, who is confident that notebook prices are bound to come down.

It has also developed two portals including indianloans.com for which

it is in talks with venture capitalists. At present, Microcity markets notebooks of Acer

and Toshiba. It also provides support to Sony as well as Siemens Nixdorf products.

Microcity has also opened two offices in USA and Singapore for software

development. All its software projects will be done offshore, according to Marwa. It has

already bagged an order worth $ 2.5 billion to develop CRM software. "Almost 50

percent of our revenues already come from software. We are trying to achieve a turnover of

Rs 30 crore this year," he says.