Hyderabad, April 11, 2003 -- Four Soft Pvt. Ltd., a Hyderabad based leading Supply Chain Management Software Solutions Company, today announced its plans for an Initial Public Offering (IPO) of 15 lakh equity shares at a premium of Rs90 per share aggregating Rs150mn. The issue will open for subscription in July 2003. The company also plans to raise an additional sum of Rs100mn through private equity and is in advanced stages of talks with strategic partners for raising this amount, a statement from Four Soft said.
Four Soft has been recording a net profit for the last three years ever since its inception in India. For the financial year ended March 31, 2003 the company achieved a profit of Rs36.5mn, up more than 350% over the year ended March 2002 when it reported a net profit of Rs1mn.
The company aims to mobilize Rs150mn through the IPO for its expansion plans. It is planning to enhance its international marketing network in Asia Pacific, Europe and USA. Four Soft already has clients in Singapore, Malaysia, Thailand, London, India, Colombo and USA. The issue proceeds will also be utilized to enhance business processes, infrastructure, product development and to increase its global sales network.
UTI securities and Centrum Finance are the lead managers to the issue, Four Soft said.
Four Soft's eSupplySP and eSupplyEP are the two flagship products of the company. eSupplySP is the first fully web-centric enterprise operating system designed to execute comprehensive transportation and logistics activities from different locations, on a single, integrated application. It also includes supporting modules for accounting and CRM.
eSupplyEP fulfils both the operating and financial information needs of companies involved in manufacturing, distribution and trading, that have intense processes of supply-chain management, such as order processing, warehousing and transportation from multiple locations.
eSupplySP was launched a year back and currently has 8 customers globally while eSupplyEP, bagged Franklin Distilleries of USA as its first customer 6 months back and is currently under implementation.
Four Soft has been a pioneer in developing completely web-centric applications for Supply Chain Process Management. The global market size for eSupplySP is close to $250mn, while the global market size for eSupplyEP is presently $2bn.
Speaking on the occasion, Palem Srikanth Reddy - Managing Director Four Soft, said , "Enterprise solutions for supply-chain management were not feasible with conventional technologies of legacy systems and client-server architecture. We have succeeded in integrating the processes and players in the supply-chain, through webcentric 3-tier J2EE architecture. At this point, we are the only enterprise solutions company in the supply chain process management which has achieved end-to-end execution capability in the global market. We are presently a 115-member team and plan to double our strength by year 2004." |
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