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Our Bureau

Chennai , Nov. 24

UniverCell Telecommunications India Private Ltd, the Chennai-based retailer of mobile phones, is planning to raise about Rs 100 crore through equity dilution to fund its pan-India expansion plans.

The closely held company is talking to private equity buyers, said Mr D. Sathish Babu, Managing Director, UniverCell. He said up to 50 per cent of equity dilution was possible.

UniverCell plans to expand it presence in two phases. In the first phase, about 100 outlets would be set up in South India by November 2007. In the second phase, about 200 outlets would be set up covering North and West India by March 2009.

To support the expansion, UniverCell will hire about 2,000 people over the next three years. Local talent will be hired and trained for two months on technical and marketing aspects of mobile phones, said Mr Babu. At present, the company has over 300 employees.

The company is targeting revenues of Rs 150 crore this year. It closed last fiscal with revenues of about Rs 70 crore.

The company inaugurated its ninth outlet in Chennai at Spencer Plaza and will be setting up four more outlets in the city. The company will set up outlets in tier-II cities in Tamil Nadu over the next few months, said Mr Babu.

For the North Indian market, UniverCell is looking at malls to set up its retail outlets. Each outlet would occupy about 1,000 sq ft and house the latest mobile phones, said Mr Babu.

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