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Oxigen aims to raise $200 million for major expansion drive

Oxigen is on a major expansion drive which includes hiring of about 1,500 people.

The Gurgaon based firm is in advance talks with investors to raise the funds in the range of USD 150-200 million (that is around Rs 938-1,250 crore), and a major part of that is expected to materialise by June this year.

“We are gearing up to expand our support system and the infrastructure for services aggregation, distribution as well as payment processing and collections in semi urban and rural areas, particularly the East and Central India,” Oxigen Chairman and Managing Director Pramod Saxena said.

On raising funds for growth, Mr. Saxena said:”We are in advanced stage of talks with investors. The amount is in the range of USD 150-200 million out of which we will announce raising a significant amount in the next 2-3 months.”

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