Friday, Apr 19 2024 | Time 17:04 Hrs(IST)
Business Economy

Gradiente bags huge export order worth 1,500 mn US dollars from Crisp Hong-Kong

Hyderabad, Feb 15 (UNI) Hyderabad based Gradiente on Thursday said it has bagged a huge order for supplies of pre-loaded software with computer hardware export order from “CRISP Hong-Kong Limited, Hong-Kong”, an International company headquartered in Hong Kong, for their Global operations.
CRISP-HK order provides a top-line of around US$ 1,500 million (Rs. 4,000 crores) and a bottom line of around US$ 120 million (Rs. 1000 crores) in the next 2 to 3 years; with a top-line of around US$ 22 million (Rs. 180 crores) and a bottom line of around US$ 2 million (Rs. 16 crores) in FY 2023-24,
Earlier Gradiente bagged GIS Projects from VISICOM, an International Joint Stock company headquartered in Ukraine, for their US operations, in April 2023 and VUV International Limited, Hong-Kong for their Global Global Operations in June 2023.
The GIS Projects are currently being executed from its Chennai Facility housing over 80 seats per shift with over 150 outsourced employees.
These efforts are part of Gradiente’s IT Division expansion and diversification plan in IT, IT-Hardware & ITES business. The samples are approved and the first batch of exports is likely to be fulfilled in during February 2024.
Talks are in an advanced stage with leading FIIs for an Investment of US$ 50 Million, to enable the company for listing on the Main Board of NSEIX (NSE International Exchange) at GIFT-IFSC, Ahmedabad.
The Company for its expansion programme has acquired a brand-new Corporate Office at Madhapur, Hyderabad, which shall be fully functional by April 2024.
The Board in its meeting held on Wednesday, authorized the Managing Director, to explore the possibilities of Fund Raise to meet the working capital requirements of CRISP order and funding requirements for expansion. The Board also expressed its no-objection with the Managing Director, to make an open-offer for increasing the Promoter Holding from current 24.96 percent to 55 percent.
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