Redington entered the capital market with an IPO in Jan 07, to raise Rs 150 crore: the issue was oversubscribed 43 times. Redingtons was the second big IPO in the channel space in the last two years, after Tulip.

But a setback was the exit of its veteran CEO, Jitendra Kulkarni, who had put in more than a decade at Redington; he left to start his own business.

Redington continued to pursue its strategy to get into higher-value businesses. For instance, its services arm, Cadenceworth, took charge of global headsets major Plantronics new India support center in Delhi.

The second half of the fiscal saw Redington re-structuring its distribution business into two divisions: IT and non-IT. While the IT division catered to its mainline IT distribution business, the non-IT division focused on products on digital lifestyle, digital publishing, consumer durables, and telecom. With this restructuring, the IT business is addressed through six SBUs and non IT through three SBUs.

Redington saw good demand for its enterprise products and solutions in large corporates and government; some of the growth drivers being the accelerated demand for notebooks and rapid displacement of CRT monitors with LCDs and for MFD printers. DQ

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