Rateria said, "there will be a premium of around Rs 15-20 but we will decide everything on May 3."

He said, "we are likely to record a turnover of around Rs 90-95 crore and a net profit of Rs 9-10.5 crore in the financial year 1998-99."

Computech is planning a foray into the business of providing Internet service and the public issue will be used to fund that. It will also be used to fund the company's overseas operations. The company is expecting to get a good chunk of the euro-conversion business.

The director of thecompany, RK Maheswari, said, "we are investing Rs 15 crore for our ISP business. The zero date for the project is June 1 and we hope to be operational by the end of 1999. We have obtained a license for Calcutta Metro city but hope to extend our operations to other parts of eastern India too."

Maheswari added, "Computech is opening an office in London soon. We will be looking at onsite consultancy and offshore work from Europe. The London office will be looking after the European business. The company is looking at a turnover of 0.5 million pound sterling from its European business in the first year."

Last time Computech went for a public issue was in October 1995. The company's stock is already listed at the stock exchanges at Calcutta, Mumbai, Delhi, Jaipur and Ahmedabad. Application for listing at the National Stock Exchange has been made.

When asked why the company was going in for a public issue while the stock markets were in the doldrums and there was political uncertainty, Maheswari said: "At thesame time IT stocks have done well in the past few months. After all certain things are never in your control and yet you have to go ahead with your business plans."