Compucom plans public issue

MUMBAI, SEPT 10: Compucom Software Ltd is entering the market with a public issue of 14,41,700 shares of Rs 10 each at a premium of Rs 65 per share, aggregating Rs 10.81 crore. The Compucom group is based in United States and has expertise in telecom software, internet applications and web-enabled solutions.

The proceeds of the issue will be used to part finance its plans to upgrade and set up software facilities at Calcutta, Delhi and Jaipur, and expand its international marketing operations through an investment in its wholly-owned subsidiary, Compucom Global Solutions Inc.

The company had a total income of Rs 336.60 lakh and a profit after tax of Rs 209.21 lakh for the year ended March 1999. Software export sales accounted for a major part of the income at Rs 313.20 lakh and interest from funds accounted for Rs 16.59 lakh.