Hyderabad-based Softline Software Services is planing to raise about Rs 100 crore through an initial public offering (IPO) by June 2009 to part fund its expansion plan.
Engaged in the sale of software products under the brand name ‘Focus', the 17-year-old company intends to expand its manpower and campus in Hyderabad and also in new overseas markets. The company's revenues last year stood at Rs 40 crore.
According to a press release, Softline operates out of 18 centres, of which four are located in India at Hyderabad, Mumbai, Delhi and Bangalore. It has 500 employees of whom 200 are overseas, mostly in West Asia.
Last year, the company entered Singapore and Malaysia and added a US centre. Its accounting and enterprise applications are currently used by over 30,000 users across the world, Softline stated.
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