Hyderabad, October 15, 2003 -- Four Soft has raised Rs 8 crore through a private placement issue. UTI Venture Fund has picked up equity in the company by investing Rs 7 crore for an undisclosed stake.
The Andhra Pradesh Industrial Development Corporation (APIDC), the other investor, had made a Rs 1 crore investment in the pre-IPO private equity funding.
Four Soft provides software products and enterprise solutions for logistics, transportation and supply-chain process management. It has two products - eSupply-SP and eSupply-EP.
While eSupply-SP is a complete end-to-end enterprise resource planning (ERP) tool for transportation, logistics and 3PL companies, eSupply-EP enhances efficiencies of supply-chain process management of manufacturing and distribution businesses.
The company achieved a profit after tax of Rs 4.16 crores for the half-year ended September 30, as per the un-audited results that have been announced.
Palem Srikanth, the managing director of Four Soft, said in a press release that, "FourSoft is a profitable company that has already developed products catering to several customers in logistics, transportation and distribution business around the globe. We are at a critical stage in the business and would be transitioning to the next higher level of growth. This funding from UTI Venture Fund would help the company in meeting its growth objectives. Foursoft is also planning to do an initial public offering (IPO) very soon." |
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