CS Software Enterprise Ltd (CSEL), a five year old company with continuous profit record, is entering the capital market with an IPO on May 15. CSEL is issuing 12,59,000 shares of Rs 10 each at a premium of Rs 10 aggregating to Rs 2.51 crore. The issue proceeds will be utilised to augment its infrastructure facilities for software development, training and maintenance and to meet the working capital requirements.
The company has three operating divisions catering to software development, training services and data management areas with a 300 plus skilled professionals out of which 30 are Sun certified Java programmers.
Since the last five years, CSEL implemented data management and software development projects for various universities and state government organisations including Andhra Pradesh Technology Services, APTransco etc.
"We have successfully implemented pre-exam and post-exam software requirements of EAMCET and executed voter identity cards project in two districts by issuing 35 lakh cards," said Ravi Vishnu, managing director.
For the nine-month period ended December '99, CSEL earned a net profit of Rs 1.2 crore on a total income of Rs 5.5 crore. Networth for the same period stood at Rs 4.8 crore.
Major projects handled by the company in recent times include launching a portal by the name www.bharatdarpan.com that is unique in providing an e-mail service in regional languages, says Ravi Vishnu. The portal also facilitates translation of e-mails from one Indian language to another.
Other portals from the company include netrealia.com, a class room on the net, online constructor.com that will provide WAP services in order to help construction sector people.
The company, registered with IBM as a second tier vendor for programme resource, is a direct vendor with Manpower Corporation, a $7 billion technical staffing company in US. In training, CSEL's clientele include Wipro and Metamore Global Solutions.
