IT services company Vinsys working on IPO; plans further expansion in US, UK markets

Currently, Vinsys operates in eight countries, including the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US with a team of over 800 professionals certified by major tech companies and institutions, including IBM, Oracle, Microsoft, Autodesk, and Cisco, among others.

“As Vinsys marks its 25th year is actively seeking inorganic growth opportunities to expand its reach in new markets, including the US and UK while continuing to consolidate its position in the Middle East. The company plans to open a new corporate office and training centre in Saudi Arabia before the end of Q2FY24. It is in talks with mid-size companies in similar lines of business in the mentioned regions,” the company said in a statement.

Founded by Vikrant Patil, Vinsys commenced operations as a boutique training centre for a few IT clients and gradually grew into India's second-largest corporate training firm.

However, the company's success is more accurately reflected in its global ambitions, particularly in the Middle East, where it became the largest corporate training player in the region through customised offerings and a series of acquisitions over the past decade.

Vinsys Founder & CEO Vikrant Patil said, “We entered into a nascent industry, enabling us to offer clients customised modules as needed. In time, the company has ramped up its operations and invested in world-class training rooms and facilities with the sustained support of its clients, including global IT majors in Pune.”

The company offers customised courses for critical sectors such as BFSI, Telecom, and Government departments, where training for IT and processes is essential.

Having trained over 1 million professionals worldwide, Vinsys is looking to double its growth through acquisitions in the coming months, particularly in corporate training and digital learning platforms, the statement said.

With ongoing global uncertainty, Vinsys sees an opportunity to scale its operations and has firmed up its fundraising plans.

The company has appointed merchant bankers and legal firms for the purpose of fundraising. For the year ended March 31, 2023, Vinsys achieved a revenue of Rs. 157.30 crores and a net profit of Rs. 16.02 crores.