Gradiente Infotainment Limited (Gradiente) has bagged a GIS Project from VUV International Limited, an international company headquartered in Hong Kong, for their Global operations.
Earlier Gradiente has bagged a GIS Project from VISICOM, an International Joint Stock company headquartered in Ukraine, for their US operations, in April 2023.
These Projects are currently being executed from its Chennai Facility housing over 80 seats per shift with over 150 outsourced employees.
Theses efforts are part of Gradiente's IT Division expansion and diversification plan with a project outlays of INR 100 Million (Rs. 10 crores) in IT & ITES business.
The entire expansion of Gradiente is likely to be funded partly by private placement, preferential allotment, debt & ADRs. The company completed its first round of funding by way of preferential allotment of 16,907,600 equity shares @ Rs. 10/- per share, thereby increasing its authorized capital to 40,000,000 shares & paid-up equity to 39,425,000 shares.
The first batch of work has been provided by VUV, approved and completed between end June and till date; and the billing for the same is expected before September 30 2023.
This project has a potential to achieve a top-line of INR 150 million (Rs. 15 crores) approx. and a bottom line of INR 30 million (Rs. 3 crores) approx. for the FY 2023-24. |
