New Delhi, February 5, 2004 -- Hyderabad-based IT company Four Soft Ltd will tap the capital market on February 16 through an initial public offer (IPO) of 25.06 per cent of its shares to raise Rs 20 crore.
The IPO, which closes on February 23, comprise 79.50 lakh fresh equity at a face value of Rs 5 and a premium of Rs 20 per share.
UTI Securities and Centrum Finance are the managers to the issue priced at Rs 25 per share.
"The proceeds from the IPO will be utilised in setting up an international marketing network, fund inorganic growth, expand existing facilities and meet R&D expenses," Four Soft managing director Palem Srikanth said on Thursday.
The company's equity base will go up to Rs 15.86 crore after the issue from Rs 11.89 crore now. Four Soft shares will be listed on NSE and BSE.
The software firm, engaged in supply chain and logistic management, posted net profits since inception in 1999 and logged Rs 5.6 crore during April-December 2003-04.
The company was promoted by Srikanth and has some of the top executives of the global logistic market as its director including Singapore Airlines chairman K B Hwee, Circle International Group ex-chief D I Beatson, Global Freight Exchange chairman D T Ash, Technova Global CEO Suresh Rajpal and AT&T CEO W J Sousa. |
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