Mascot Powersys opts IPO route to fuel franchise expansion

Mascot Powersys, a Delhi based car CNG kits distributor is planning to take the count of its outlets to 74 within next three years across India. At present, the company has six franchised outlets and two company owned outlets in Delhi. The company is seeking to raise a fund of about Rs 200 crore via IPO route in 2013 to fuel this expansion, confirms by Yash Arora, Director, Powersys.

Besides this, the company is aiming to open 20 outlets in Delhi by 2012. It is also targeting to enter other markets such as Ahmedabad, Surat, Vadodara, Mumbai and Pune. The new proposed stores will be launched mostly through the franchise model and about 15 of them will company owned.

Mascot Powersys is also mulling over setting up a local manufacturing facility for the CNG kits, which are currently imported from Poland and Italy.