Four Soft to tap market with Rs 19.87-crore IPO

Four Soft Ltd, a Hyderabad-based IT enterprise solutions provider, is to raise Rs 19.87 crore through an initial public offer of Rs 79.50 lakh shares at Rs 25 per share to fund its expansion. The IPO would open on February 16 and close on February 23, the company managing director Palem Srikanth said here on Monday. The issue price comprises premium of Rs 20 per share. ‘‘The proceeds from the IPO would be utilised in setting up an international marketing network, funding inorganic growth, expanding existing facilities and meet R&D Expenses,’’ he said.