Hyderabad, April 9, 2003 -- Four Soft Pvt Ltd, a Hyderabad-based leading supply chain management software solutions company, has announced 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 strategic partners for raising this amount.
In an exclusive interview to myiris.com, Palem Srikanth Reddy, managing director, Four Soft, said, `The IPO is scheduled for July 2003. It involves $5 million. Of this amount, $3 million will be through the IPO and $2 million will be a private placement, prior to the IPO.
The company aims to mobilise Rs 15 crore through the IPO for its expansion plans. It plans to enhance its international marketing network in Asia Pacific, Europe and USA. The issue proceeds will also be used to enhance business processes, infrastructure, product development and increase its global sales network.
Four Soft`s eSupplySP (Service Provider) and eSupplyEP (Enterprise) are its two flagship products. 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.
Added Reddy, `eSsupply (SP) has been in the market for one year now. eSupply (EP) was introduced as a demo ready version nine months back, but the first customer or commercial version will be rolled out next month.`
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 is presently a 115-member team and plans to double its strength by the year 2004.
Four Soft is a technology company which develops innovative software products and provides IT consultancy services to the logistics and supply chain management marketplace. Their state-of-the-art software development centre is based in the Hi-tech City of Hyderabad, India, with sales and support offices located in Asia, Europe, and North America.
Four Soft provides greater operating efficiency to today`s supply chain operations through their proprietary, 100 per cent web-based enterprise application product suites eSupply (SP) and eSupply (EP). |
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