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Four Soft plans IPO in December

November 19, 2003 16:31 IST

Four Soft Limited has filed a draft prospectus with the Securities and Exchange Board of India for its initial public offering in December.

The company is making a public issue of 79,50,000 equity shares of Rs 5 each for cash at a premium of Rs 20 per share, aggregating Rs 19.875 crore (Rs 198.75 million).

Its paid up equity share capital would increase from the current Rs 11.89 crore (Rs 118.9 million) to Rs 15.86 crore (Rs 158.6 million) after the equity issue, according to a release issued by the company in Mumbai on Wednesday.  

UTI Securities Limited is the lead manager, while Karvy Consultants Limited is the registrar to the issue, the release said.

The shares are proposed to be listed on the Mumbai Stock Exchange and the National Stock Exchange of India, it said.

The company, which is engaged in the business of product development and sale of web-centric enterprise wide solutions for the supply chain services industry, plans to use the proceeds to set up an international marketing network.

It also plans to use the proceeds to fund its inorganic growth initiatives, expand its existing facilities and to meet its product development and R&D expenses, the release added.


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