With its operations well in place in India, the Rs 200-crore security solutions provider, Topsgrup, now wants to expand its business globally.
MUMBAI: With its operations well in place in India, the Rs 200-crore security solutions provider, Topsgrup, now wants to expand its business globally.
The company has laid out plans to acquire a UK-based, Rs 1,800-crore ($40 million) security firm.
“We have initiated talks with the firm and will conclude the acquisition in the next six months. “We are also looking at acquisitions in the US,” said Diwan Rahul Nanda, Topsgrup chairman and managing director (CMD).
“We are aiming to spread our business to over 10 countries across the globe,” he said. Besides overseas takeovers, Nanda assures there would be some buyouts in the domestic market too.
At present, Topsgrup is the second-largest security company in the Rs 2,500-crore Indian security industry, after Group 4 Securicor (G4S) India.
However, once the Indian government passes the Private Security Agencies Regulatory Act (PSARA) Bill, Topsgrup is hoping to garner a higher market share, as many of the fly-by-night operators from the Rs 5,000-crore unorganised sector, would be forced to close shop.
“Under the new law, it will be mandatory for any private security firm operating in the country to acquire a licence from regulatory authorities. This would push out many of the illegal players in the unorganised sector,” said Nanda.
Also, with the PSARA bill capping foreign direct investment (FDI) in an Indian security company at 50%, its closest rival, the UK-headquartered G4S India, will have to dilute its 90% stake by roping in a domestic partner.
And, with massive expansion plans on its drawing board, the security firm is planning to come out with its initial public offer (IPO) some time next year.
Some high-profile investors are already eyeing the company with keen interest. One of the country’s leading investors, Rakesh Jhunjhunwala, has already picked up a 15% stake, while another company (name undisclosed) has bought 5% of its shares.
With the global ambition in mind, it has enhanced its security services with the addition of air rescue, which includes private air ambulance, medical escorts on commercial aircraft and commercial airline stretcher.
“We have covered all the aspects of land security, we now want to provide bedside-to-bedside air rescue operations,” said Topsgrup CEO Prabhat Jauhari.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}