Wdc Planning Ipo By Year-End

Web Development Corporation (WDC), a Calcutta-based e-solutions provider, is planning to go for an initial public offering (IPO) towards the end of this year.

WDC is also a business partner to IBM, Netscape, Lotus, Microsoft and Oracle. WDC works on their platforms and helps customise their products.

Besides WDC has also been involved in the construction of sites like hifunda.com, teauction.com and check4health.com.

It has also been involved in the web page designing and messaging of WBDIC, Emami, Webel, Ordnance Factory Board and Usha Martin Telecom.

Rahul Todi, executive director, WDC, told Business Standard that the first round of dilution of equity has already taken place.

"Ten per cent of the equity has already been offloaded. Dilution of equity has been done proportionately from the stakeholders, "Todi said.

Earlier the stakeholders of the company were Shrachi Securities Ltd. of the Todis, Rahul Sharma and Harsh Hada. Shrachi Securities held 45 per cent of the stake.

WDC employing 95 professionals provides Internet solutions ranging from webpage designing, messaging, intranets, extranets to construction of portals. "We help companies to convert from brick and mortar to click and mortar, "Rahul Todi said.

WDC has three sites of its own _ namely, bengalonthenet.com, fashionindia.com and miningindia.com, all of which are more than a year old. According to Ravi Todi, "the revenue earned from these sites is satisfactory and most of the revenue comes from advertisements.