VA Tech Wabag Ltd, a Chennai based water management company feels to increase approximately Rs 475 crore by its initial public offering. The cost of the issue has been fixed at Rs 1,230 to Rs 1,310 as per equity share of Rs 5 each, total of Rs 125 crore.

Having a dialog with the reporters on Wednesday, VA Tech's managing director Rajiv Mittal expressed that of the total proceeds, Rs125 crore shall be cast-off to put up an integrated Enterprise Resource Planning (ERP) and IT system to bond its Chennai corporate office via 18 nations to inspect current projects.

At present, the company has been ordering books of Rs 2,800 crore and those will be executed over the coming 2 years of time. Out of this mainly 40 % is from customers living abroad, and the corporation aims to hike this to 50 % in coming 2-3 years of time.

The specifically focused places shall be upcoming markets along with North Africa, west Asia, China, Central and Eastern Europe.

Mittal expressed that turnover of Rs 1,250 crore in 2009-10 is churned out by the company, a CAGR of 40 per cent over the last three years.