Pakistan’s biggest IT company plans to hold IPO, expects to raise Rs1.5 bn

Pakistan’s biggest IT company by revenue Inbox Business Technologies plans to hold an initial public offering (IPO), expecting to raise Rs1.5 billion, Bloomberg reported.

Inbox Chief Executive Officer Mir Nasir said the company plans to sell a 39 percent stake in the IPO to be held in June. Nasir said he is targeting revenue to get double to $100 million in five years.

“Providing agility for the digital age”, Inbox started out as company dealing with assemblage of computers and laptops in 2001 and now provides a range of services, including IT and cloud services, to the public and private sector.

Inbox’s biggest customer is the government, which contributes 80% to its revenue, Bloomberg quoted the CEO as saying, while telecommunication companies and banks are also major spenders.

“Our own industries are now starting and taking notice of the digital disruption concept and they are getting more and more automated,” Nasir said. “You need Pakistani Tatas and Wipros.”

Inbox Technologies provides services for various sectors, including defence, financial companies and others.