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Four Soft Plans Rs 20Cr IPO

New Delhi, February 5, 2004 -- Four Soft Limited, a Hyderabad-based enterprise-wide solutions provider, is coming out with an initial public offer (IPO) of 79.5 lakh equity shares of Rs 5 each at a premium of Rs 20, aggregating to about Rs 20 crore. The issue is lead-managed by UTI Securities and would remain open for the public between February 16-23, 2003. The stock will be listed on National Stock Exchange and The Stock Exchange, Mumbai (BSE).

Proceeds of the issue would be utilised to set up international marketing network, fund inorganic growth initiatives, expand existing facilities, and meet product development and research and development expenses.

Set up in December 1999, the Rs 7.35-crore company is into the product business catering to the supply chain services industry. It has developed two products, eSupply SP and eSupply EP which have so far been sold to 11 customers in the US, UK and South-east Asian countries.