Date:01/04/2005 URL: http://www.thehindubusinessline.com/2005/04/01/stories/2005040102211700.htm

Back Easy Bill plans public issue

Our Bureau

Mr A.K. Purwaha, Managing Director, Mahanagar Gas Ltd (left), and Mr Rahul Munjal, CEO, Easy Bill, at a press conference in Mumbai on Thursday, to announce a tie-up for easy payment of consumer bills. — Shashi Ashiwal

Mumbai , March 31

EASY Bill, Rs 400-crore privately held division of the Hero group, plans to go public in 2007-08.

The company, which allows customers to pay their power, phone and gas bills through the local convenience stores, will go public after it reaches its target of appointing 10,000 franchisee outlets, said Mr Rahul Munjal, CEO, Easy Bill.

The company, owned by the Rs 6,000-crore Hero Group, plans to reach its network to 50 cities across the country. It currently has networks in Delhi and Mumbai. The company plans to set up 3,000 outlets this year, Mr Munjal said.

Easy Bill on Thursday tied up with Mahanagar Gas Ltd to enable the gas utility's customers pay bills at locations closer to their homes. Mr Munjal said the company is eyeing the vast network of petrol pumps set up by public and private sector oil companies for tying up more franchisee outlets.