Tutorial services provider Career Point Infosystems which listed today has registered a massive gain of 104%, or Rs 322.35 to close at Rs 632.35 on the BSE. It listed at Rs 461.10 as against issue price of Rs 310. The company raised Rs 115 crore through the issue, which opened for subscription during September 16-21, 2010. It was subscribed 47.39 times. Career Point's market capitalisation stands at Rs 1,146.64 crore.The company intends to use issue proceeds for construction and development of an integrated campus facility; expansion of classroom infrastructure and office facility; acquisitions and other strategic initiatives; and to meet expenses towards general corporate purposes.
In an exclusive interview Pramod Maheshwari, CMD and CEO of Career Point today said that the company will continue to grow at its historical run-rate of 25% year-on-year. He said in terms of the revenues, the company would end the current fiscal with Rs 80-85 crore. He is also hopeful that the company would post Rs 25 crore in profits for the fiscal. He added that Career Point would be adding facilities for about 2,000 students as part of its capacity expansion plans in FY12.
