The issue at a premium of Rs 45 per share is slated to open on June 18. The proceeds of the issue will be used to part-finance the expansion plans of the company costing Rs 25.75 crore. The company is expected to generate the rest through internal accruals and term loans.

The expansion plans of the company include setting up of a subsidiary in Europe and development centres in US and Singapore. SQL is also setting up offshore development facilities and ERP consulting facilities at Hyderabad. The company is traditionally into computer based education sector and will expand the activities by setting up centres in Hyderabad, Pune, Bangalore, Mumbai, Chennai and Singapore.

SQL notched a turnover of Rs 27 crore for the year ended December 1998 on an annualised basis. The company is seeking to enrol at least 15,000 students during the year and hasalready enrolled about 4,500.

SQL is promoted by its managing director Ashok K Agarwal, director of finance Brij K Tankha, Kishore BV Buddhiraju, Pradeep Gupta, Satish Arora and Subhash Bhatia. Post issue, promoters stake will stand at 35 per cent.

At present, ICICI Ventures holds around 45 per cent in the company, which will come down to 32 per cent post equity.

SQL has been offering training in IBM and Oracle platforms through its centres in Delhi, Calcutta, Bhubaneshwar and Hyderabad. It offers services for health care,insurance and manufacturing sectors and training in software platforms of Oracle, IBM AS/400 main frames and open systems technology covering VC++ and Internet.

Another aim is to get certification from companies like Microsoft and IBM for its courses.