Mascot Powersys seeks growth via IPO route

Mascot Powersys, a car CNG kits distributor headquartered in Delhi is planning to open new outlets across India.

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Jun 06, 2011 | comments (0) |

Mascot Powersys  seeks  growth via  IPO route

Mascot Powersys, a car CNG kits distributor headquartered in Delhi is planning to open new outlets across India. With the new openings the count of its outlets will be 74 within next three years in the country. Currently, the company operates through six franchised outlets and two company owned outlets in Delhi. More over, it is opting for Initial Public Offering (IPO) route to raise Rs 200 crore in 2013 to fuel its growth, confirms Yash Arora, Director, Powersys.
Apart from this, the company expects to open 20 outlets in Delhi by 2012. It is also aiming to enter other markets like Mumbai, Pune Ahmedabad, Surat and Vadodara, The new store openings will be launched primarily via franchising and about 15 of them will under company ownership.
Furthermore, Mascot Powersys is aspiring to establish a local manufacturing facility for the CNG kits which are currently imported from Poland and Italy.

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