El Net-3l To Go Public This Year

High-end software education and training company, Electronically Networked - Life Long Learning (P) Ltd (El Net-3L), is planning to go public during the current year. The company has begun a restructuring exercise to match its growth plan which includes expanding overseas.

El Net-3L, which is promoted by a group of technocrats from the IIT(Kharagpur), has already initiated the process including talks with various venture capital funds. "We have appointed agencies for valuation and expect the process to be completed in the next six months," said Indrajit Singh, president, El Net-3L.

El Net-3L and its sister concern Alumnus Software posted a turnover of Rs 12 crore in 1999-2000.

El Net-3L expects its share of turnover alone will increase from the current Rs 8 crore to Rs 20 crore by the end of the current fiscal.

The company currently has a network of 70 education centres across the country and has drawn up plans to expand it to 100 centres during the current year and to 168 centres in the next few years.

Plans are also on to start a web development company under which 10 different portals will be launched in the next 12 months. "El Net's web development company will require over 1000 trained personnel," Singh said.

El Net courses are designed by professors of IIT Delhi and Kharagpur and some of the core technology courses have been designed and developed by the Center of Education Technology (CET), IIT Kharagpur and the Institute's Continuing Education Programme (CEP) issues certificates for the El Net courses.

"We will launch our networks in Bangladesh later this month are mulling forays in Australia, South Africa and South East Asia," said Biswadeep Gupta, general manager, El Net-3L.

Following the current restructuring exercise, El Net-3L will be the parent company with three independent profit making divisions namely, education, services and placement.

"We are currently talking to two placement organisations located in the east and west coast of US for sourcing trained personnel," Singh said.

El Net-3L yesterday announced the launch of a new software development and career programme, E-Jobs, at all its centres across the country. "The six-month training and 600 hours internship course will cost Rs 58,000 and assures all successful candidates jobs with entry level salary of Rs 72,000 per annum," Gupta told Business Standard.