Four Soft taps market with Rs 19.87 cr issue today
New Delhi, February 16, 2004 -- Four Soft Ltd is tapping the capital market with a public issue of Rs 79.5 lakh equity shares of face value of Rs 5 each. The shares will be issued for cash at a premium of Rs 20 per share aggregating Rs 19.87 crore. The issue will open on February 16 and close on February 24, 2004. The proceeds will fund the expansion of the company’s existing facilities apart from setting up a marketing network and target acquisitions.
The company started with an objective to build the enterprise software/IT solutions, in supply chain process management, using advanced web technologies. Four Soft unit at the Hitec city in Hyderabad is registered as a 100 per cent export-oriented unit under software technology park scheme of the government of India. In an advertisement, the company has stated that it employs over 140 personnel and has consistently been reg istering profits since its inception in December 1999.
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