DC Design plans IPO in 3 years

Car designing firm Dilip Chhabria Design (DC Design) on Thursday said it was planning to come out with an initial public offer in the next three years while its upcoming Pune manufacturing unit would be operational by September 2004.

"We are planning an IPO. It should take three years of time," DC Design chairman and managing director Dilip Chhabria said, unveiling a car designed by him in New Delhi.

"Our Pune plant is behind schedule by three months. It will be operational by September," he said.

At present, the company was working on five international projects.

The five global orders would give the company a fillip to get more such projects, he said declining to name the companies or individuals on whose behalf the projects were being executed.

The Pune plant, which is being set up with an investment of Rs 40 crore (Rs 400 million), will have a capacity of 500 cars.

On the funding for the facility, he said it included private equity placement.

Almost all big manufacturers did think of manufacturing limited edition cars and this void offered a huge opportunity for a company like DC Design, he said.

Early last year, the company displayed the 'Aston Martin' at the Detroit Auto Show in the United States. The prototype of the car was designed by Dilip Chhabria.

A large number of American and European automakers are increasingly looking at India to outsource design and engineering processes.