Hyderabad, April 8, 2003 -- Four Soft, the Hyderabad-based supply chain management software solutions company, announced its plans for an initial public offering of 15 lakh equity shares at a tentative premium of Rs. 90 per share aggregating Rs.15 crores in July. It is now in the process of raising an additional Rs. 10 crores through private placement at a similar premium and plans to apply for the Securities and Exchange Board of India (SEBI) card by the month-end.
Addressing a press conference here on Monday, Palem Srikanth Reddy, Managing Director, and Suresh C. Rajpal, Director (former MD of Hewlett Packard-India), said Rs. 25 crores would go into new investments and strengthening access to international market. They have integrated the processes and players in the supply chain, through webcentric 3-tier J2EE architecture.
From 115 professional, it plans to double it by 2004. With headquarters in HITEC City here, it has sales and support offices in Asia, Europe and North America. Mr. Reddy said 70 per cent of Rs. 7.50 crore revenue of March 2003 came from the U.S.
With a net profit of about Rs. 3 crores, he was confident of higher profitability, post-issue also, as it was a product company, and expenses on product development and research would be lower. It has Rs. 13 crore orders on hand, he said. |
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