International long distance company Data Access said on Tuesday that it plans to invest $50 million during 2003-04.
The investment will be partly funded by internal accruals and the balance through debt, equity, or a combination of both.
"For the year ended September 2004, we are looking at an investment requirement of about $50 million. While half of this will be supported by internal accruals, for the rest we can go for debt or an initial public offering or both," Siddhartha Ray, founder and managing director of Data Access India, told reporters at a conference in New Delhi.
There was a 'possibility' that the company goes for an initial public offering, Ray said.
Various permutations and combinations were being considered and a final picture on this would emerge by the close of the company's current financial year in September 2003, he said.
"In case we decide on an IPO, it will not happen before March 2004, maybe sometime in the second quarter," he pointed out.
Data Access's revenues for the year ended September 2003 is expected to be about Rs 1,400 crore (Rs 14 billion), he said, adding that in the next financial year the company is targeting revenues of Rs 4,000 crore (Rs 40 billion).
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