Hyderabad, April 8, 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 Rs 90 per share aggregating Rs 15 crore. The issue will open for subscription in July 2003. The company also plans to raise an additional sum of Rs 10 crore through private equity and is in advanced stages of talks with (Q, N,C,F)* strategic partners for raising this amount.
Four Soft has been recording a net profit for the last three consecutive years, since its inception in India. For the fiscal ended March 31, 2003, the company achieved a profit of Rs 3.65 crore, which is more than 350 per cent growth compared to fiscal ended March 2002 (compared to Rs 10.01 lakh for fiscal ended March 2002).
The company aims to mobilise an amount of Rs 15 crore through the IPO for its expansion plans. The company plans to enhance its international marketing network in Asia Pacific, Europe and USA. The issue proceeds will also be utilised 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`s eSupplySP (Service Provider) and eSupplyEP (Enterprise) 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. eSupplysp was launched a year back and currently has eight customers globally while eSupplyep, bagged Franklin Distilleries of USA as its first customer six months back and is currently under implementation.
Speaking on the occasion, Palem Srikanth Reddy, managing director, Four Soft notes, `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 web-centric three-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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