New Delhi: Powerful Technologies Pvt. Ltd. is all set to hit the capital market with an initial public offer (IPO). The issue will open on August 9 and close on August 14, 2018. In just 5 years after its inception, the company did around 125 crore group turnover in the last FY.
Spurring their operations from a small commercial space in Delhi while dealing in trading of computer parts, to setting up a manufacturing house of LED TV and Power Banks, the journey of Powerful Technologies had been sheer eventful and full of challenges.
Co-founders, Aditya Gupta, MD Powerful Technologies and Nitin Chhabra, Executive Director and Promoter have been the major growth drivers of the company in support of Karuna Chhabra, Non-executive Director and Promoter.
With a small capital, the company generated funds from bankers, friends and relatives to create an enviable set up which today is supported by 100 workers beside various professionals. Pioneering in the manufacturing of consumer electronics products like LED TV sets, Monitors, speakers, Mobile Power Banks and accessories Powerful Technologies embraced the “Make in India” initiative launched by the government of India in 2011.
With the outset of excellent working and focused vision towards delivering products & services that not only met the expectations of the customers, but also exceeded way ahead on all the parameters of technical innovation, customer satisfaction and after sale services added a big smile and trust amongst the patrons keeping in sink for future association with the company. The company recently tied up its business operations with Polaroid and Kodak which are one of the most popular American brands.
Managing Director of the company Aditya Gupta says “Since our company has consistently generated profits from the beginning and have a huge potential due to the brand we are carrying and the industry we are into, we hope for a positive response to our IPO from investors. Proceeds from the IPO will help finance our expansion plans.”
He also, added Powerful technologies is going to fully automate its process to reduce the dependency on raw material from China. We are planning to manufacture maximum parts in India as Import substitutes.
Nitin Chhabra, Executive director & promoter believes that the current economic environment is very conducive to “Make in India” products. The overall reputation and acceptance of the Indian made products has increased worldwide and now people are increasingly preferring and ready to pay for products made in India in comparison to Made in China ones.