Information technology and research and development services company MindTree Consulting plans to float an initial public offer during the current financial year and also hire 3,500 professionals by 2007-08, the management said on Saturday.
MindTree has become the fastest Indian IT company to cross the $100 million mark in revenue.
The Bangalore-based firm reached $102 million mark in revenues in 2005-06, an 83 per cent growth over the previous year; the company in which venture capitalists hold a stake of around 40 per cent, proposed to go public in the second half of 2006-07, its chairman and managing director Ashok Soota said on Saturday.
Research and development and IT services grew by a robust 75 per cent and 87 per cent, respectively.
The company crossed the milestone in just six years. Historically, Indian software companies have taken two or three times as long to reach the $100 million mark, company executives said.
Soota said the company is confident of reaching $231 million in revenues by 2007-08.
The company currently has a headcount close to 3,200.
Its general manager (people function), Puneet Jetli said the firm plans to hire 1,500 to 1,600 employees in the current financial year and another 2,000 in 2007-08.
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