| The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and to carry out the sale of up to 10,400,000 Equity Shares by the Selling Shareholder. The listing of the Equity Shares will enhance our brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for the Equity Shares in India.
Business Description :
We are the leading global pure-play ER&D services company. (Source: Zinnov Report) We provide ER&D services, which is defined as the set of services provided to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers. We operate in a large and growing global market derived from a global corporate ER&D spend of US$1,007 billion in 2015,of which the ER&D spend of the top 500 global ER&D spending companies (“G500 ER&D spend”) was US$614 billion in2015. (Source: Zinnov Report) The estimated addressable ER&D outsourcing
opportunity for ER&D service providers wasUS$365 billion of the G500 ER&D spend in 2015. (Source: Zinnov Report) US$67 billion of the corporate ER&D spend ofUS$1,007 billion is currently addressed, which represents a penetration of 6.7% and offers potential growth opportunities.by region, we derive 80.2% of our revenues from customers in North America and Europe, which are the two largest regions of corporate ER&D spend and represented over 73% of the US$1,007 billion corporate ER&D services spend in 2015.(Source: Zinnov Report) The top 100 spenders in the G500 ER&D spend contribute 66.3% of the G500 ER&D spend and our key global customers include 43 of the top 100 global ER&D spenders, which offers significant growth opportunities for existing customer accounts. (Source: Zinnov Report)We operate in five industry segments (transportation, industrial products, telecom and hi-tech, process industry and medical devices, each of which represent a significant component of G500 ER&D spend. 50.3% of our revenue in FY 2016 was derived from the three segments of industrial products, process industry and medical devices. These three segments representUS$205 billion of G500 ER&D spend and have low penetration by India based third-party ER&D service providers, which gives us a competitive advantage. (Source: Zinnov Report)We offer design and development solutions throughout the product development chain and provide solutions in the areas of mechanical and manufacturing engineering, embedded systems, software engineering and process engineering. For “new” technologies, we provide services and solutions in the areas of product lifecycle management, engineering analytics, power electronics, M2M connectivity and IoT. We focus on innovation driven technology leadership and have set up research and test laboratories that are specific to particular industry verticals and that seek to replicate our customer’s work environment, enabling us to work very closely with the customers’ research and development teams on product innovation through leveraging our technology. We have invested in IoT, digital technologies (smart products, smart services, smart manufacturing and smart operations) and lab infrastructure to strengthen our position in these areas. Our ER&D services help customers reduce time-to-market for their end products and services, innovate to create new products and solutions, reduce cost of development and meet increasing regulatory requirements more effectively.
| Lead Manager |
- DSP Merrill Lynch Ltd
- JM Financial Institutional Securities Ltd.
- Kotak Mahindra Capital Co Ltd
- SBI Capital Markets Ltd
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