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To: Mohan Marette who wrote (5607)	8/17/1999 8:55:00 AM
From: Mohan Marette	Respond to of 12475

Kaashyap Radiant Systems Rs 320 lakh IPO opens on Aug 30th Source : MakroIndia Aug 17, 1999, 8:48:27 AM Kaashyap Radiant Systems Limited (KSRL), a company operating in the software education and training and software development and consultancy industry is coming out with an initial public offer of 32,00,000 equity shares of Rs. 10 each for cash at par aggregating Rs. 320 lakhs. Out of the public issue, 3,20,000 equity shares of Rs. 10 each are reserved to the employees of the company and 2,60,000 equity shares of Rs. 10 each are reserved to Non-resident Indians and Overseas Corporate Bodies (NRIs/OCBs) Foreign Institutional Investors (FIIs). The issue is opening for subscription of august 30, and closing on September 6, 1999. Indo Global Financial Trust Limited is the lead manager to the issue and SMIFs Capital Markets Limited is the advisor to the issue. The proposed public issue is to partly fund the project of setting up two ERP training-cum-software development centres at Chennai and Bangalore and eight education and training centres in other cities like Coimbatore, Hyderabad, Pune and Delhi. The total cost of the project is Rs. 1000 lakhs. The project has been funded by IDBI to the extent of Rs. 270 lakhs, which has been disbursed and utilised in the project. The company has already incurred and amount of Rs. 468 lakhs on the project. Wipro Limited had subscribed and was allotted 5,00,000 equity shares of KSRL of Rs. 10 each aggregating to Rs. 50 lakhs. M/s Hassan a Karim Alghatani Sons Company, Saudi Arabia, a business associate of the company, had also subscribed and was allotted 2,32,000 equity shares of Rs. 10 each of KSRL aggregating Rs. 23,20,000. Presently, the company is engaged in the business of software education and training (infoschool division) and software development and consultancy (infosoft division). The company currently has 12 education and training centres (own and franchise) spread over two states viz. Tamil Nadu and Karnataka. The company offers various courses in the fields of corba, java, object oriented programming and e-commerce. In the software development and consultancy segment, the company is focussed in the areas of Enterprise Resources Planning (ERP), Supply Chain Management and E-commerce and web/internet related areas. The company has a technical assistance agreement with Radiant Systems Inc., USA, which is also one of the promoters of KRSL. Radiant is a national implementation and accelerated partner of SAP in the us. The client list of radiant includes AT&T, Lucent Technologies, Standard and Poor and GE Capital.