VCCircle

Delhi-based IT hardware and diversified electronics company Intex Technologies plans to raise funds via an IPO or private equity placement, says a report. The company, which started as an importer of ethernet cards from Taiwan in 1996, is now a leading distributor and manufacturer of computer peripherals. The company also recently ventured into the marketing of mobile phones, essentially targeted at rural markets, besides car audio and accessories.
Intex, founded by first generation entrepreneur Narendra Bansal, wants to position itself as an end-use products company (an electronics brand?) from a mere computer peripherals player. It's now looking for a foreign partner in a joint venture to start manufacturing of audio products. The joint venture should happen in the finnacial year 2008-09. Intex has a factory in Jammu and Baddi in Himachal Pradesh. Intex is targetting a turnover of Rs 380 crore this financial year, up from Rs 260 crore this year. The profits are not known.