Gradiente Bags Huge Export Order for USD 1,500 Million From “Crisp Hong-Kong Limited,” A Large Global Company
Gradiente 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 US$ 1,500 million (Rs. 4,000 crores) approx. and a bottom line of US$ 120 million (Rs. 1000 crores) approx. in the next 2 to 3 years; with a top-line of US$ 22 million (Rs. 180 crores) approx. and a bottom line of US$ 2 million (Rs. 16 crores) approx. 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 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.
The company currently has an Authorised Capital of INR 850 million and Paid-up Capital of INR 842 Million consisting of 84.2 Million shares with a face value of INR 10/- per share. The company’s shares are listed on “The Calcutta Stock Exchange”.
Gradiente has mandated IDBI Capital Markets & Securities Limited, Mumbai, Merchant Bankers, for their Advisory Services for Direct Listing of Gradiente Infotainment Limited with BSE (Bombay Stock Exchange) and NSEIX (NSE International Exchange) at GIFT-IFSC, Ahmedabad.
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 Gowra Fountainhead, Hi-Tec City, Madhapur, Hyderabad, which shall be fully functional by April 2024.
The Board in its meeting held on 14th February 2024, 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% to 55.00%.
