IT Contract Staffing Company With INR 100 Crore Tax Exemption in Bangalore, India

- IT staffing company started operations in late 2018.
- INR 1 Crore Revenue YoY.
- Built apps, IT products and did projects for customers.
- Core business is IT contract staffing with active contracts Wipro (direct), IBM (sub), and Infosys (sub) to name a few.
- Promoter has a strong background with over 20 years of management experience in IT services and staffing.
- Promoter has experience building, generating & managing revenues of over INR 125 crores each year as BU Head at an MNC heading operations across India and EMEA.
- Was also previously employed as a CEO of a mid-size It Services firm where he grew revenues by 95% in one year.
- Have now acquired a newly established IT company in the USA and renamed (goal is to do H1Bs)
- Intend to incorporate and grow in UAE and expand operations into these 2 countries by hiring a sales team.
- Company had investors for INR 3 crore pre-Covid, but they pulled out due to global business fears amid the Covid pandemic.
- Revenues are flat INR 1 Crore and contract staffing needs fund infusion for growth.
- Last year, we got a INR 100 Cr income tax exemption (attached). INR 100 Crores tax exemption can be used within 5 years from now.
- Investor onboarded with 49% stake dilution to invest in growing India and USA.
- But the investor downsized and roadblocked hiring recruiters and team for growth.
- Lost most active billing resources, and revenues down to all time low 1-2 resources on billing.
- Active contracts with Wipro (direct) IBM, Infosys and huge potential to grow contract staffing business.
- Company feels this is the right time for the entry of an investor as we are now seeing a huge surge in opportunities.
- Will buyback the shares from the existing investors.