Mumbai based security services provider Topgrup is planning to float an IPO to raise upto Rs 300 cr to fund its acquisition plans. Topsgrup is scouting for acquisition targets in US and India.

Established in 1970, Topsgrup provides security solutions through 11 specialised companies. It serves over 8000 corporates through a work force of over 80,000 permanent and non-unionised secutiry guards and officers across 436 locations throughout the country.

Earlier in May 2008, Topsgrp had acquired 51% stake in British security firm - Shield Guarding Company Ltd for Rs 125 cr in an all cash transaction.

Topsgrup had acquired bangalore based - Guardwell Detective Services for Rs 35 cr in April 2008.

Over the last three years, Topsgrup has grown at a CAGR of 45%, higher than the industry which is growing at a CAGR of 22%.