Inbox Business Technologies to Raise Rs. 1.5 Billion via IPO
With the government in sort of slumber, private: profit-based companies have taken up the task of modernization in Pakistan. Inbox Tech and Dell EMC are 2 such companies. Inbox Tech is one the largest IT companies in Pakistan at the moment, having achieved the spot after years of hard work, starting as a meager assembler for Computers and Laptops back in 2001.
The main source of company’s income is the government. It sells equipment to the government currently for mutual benefits. It is also handling the Metro bus projects of Lahore and Islamabad/Rawalpindi, being responsible for maintenance of automated fare collection, bus scheduling and vehicle monitoring systems.
Currently the company aims at generation of $14 million in a bid to move from manual paperwork to digital systems. For the generation, the company is opening up 39% of the stakes in the IPO, scheduled in June.
The CEO of Inbox, Mr Mir Nisar presented the 5 year plan to be the generation of $100 million. He was quoted saying,
“Our own industries are now starting and taking notice of the digital disruption concept and they are getting more and more automated. You need Pakistani Tatas and Wipros.”
Dell EMC also has its eyes set on Pakistan. On his first visit to Karachi, the Vice President for Asia Emerging Markets at Dell EMC, Chee Wei Chue was quoted saying,
“Pakistan is bigger than I thought. It’s a huge place of flat land and there was some foundations being laid. It confirms my feeling that Pakistan has huge potential or hidden goldmine for investors.”