NEW DELHI, Mar 22: Facility management and security business firm Tenon plans to go public by listing itself on the domestic bourses by the end of 2017.
The Bengaluru-based firm is also considering acquisitions as part of an overall expansion, both in domestic as well as overseas markets.
“We plan to get the company listed in India by end of 2017 as we focus on the next phase of expansion,” Tenon Group Executive Chairman Manjit Rajain told PTI.
Till now the company’s growth has been mainly organic but now a fair amount of inorganic expansion is being planned, he added.
On the company’s hiring plans, Rajain said: “We should be reaching the number of total 60,000 employees this year from our present strength of around 53,000.”
“Apart from the acquisitions in India we are keen on acquisitions in countries such as UK and Singapore. The company has already expanded its presence in Saudi Arabia, Sri Lanka and the Netherlands,” Rajain said.
When asked how the company planned to finance the expansion, Rajain said, “It will be through internal accruals, debt funding and payment with equity.”
The group is present in Singapore through its holding company Mortice, which is listed on the London Stock Exchange. (PTI)
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