Following the corporatisation, the business unit will be headquartered here with a staff strength of around 80. However, C-DAC's main research and development team will continue to be located in Pune. The company's here office currently houses a small R&D team which will continue even after the corporatisation. Its business unit during the last fiscal logged a total turnover of Rs 26 crore.

It is learnt that C-DAC was in talks with FIs like IDBI and ICICI for offloading the government stake. When contacted, C-DAC executive director RK Arora told The Financial Express that discussions were on with a couple of leading financial institutions in the country.

Without naming the FIs, Arora said: ``The entire process is subject to the approval from the government. We had already submitted papers to the Union government to this effect. However, we have not set any time frame for implementing the proposal,'' he added.

The new business model envisaged by C-DAC includes a common head for both the business and R&D divisions. But both these units will be exclusively monitored by different business heads. C-DAC is also planning to expand its business activities by infusing funds by FIs and the government.

Eyeing a turnover of Rs 36 crore during the current fiscal, the company is in discussion with Russia to supply Param 10000 - the most powerful supercomputer ever made in the country. The Param 10000 will follow Param 8000 and 9000 that have already been installed there, according to Arora.

The company is now engaged in developing next generation high performance computing and communication technologies and application covering system for software and parallel programming tools, specific libraries and multi-disciplinary applications.

It is also implementing major scalable end-user specific applications in areas like computational fluid dynamics, finite element methods, image processing, atmospheric sciences and seismic data processing including huge amount of data.

C-DAC is developing various computer intensive applications using our Param series of computers. ``Other scientific applications in physics, chemistry, and business applications in banking, financial modeling, insurance, telecom and electronic governance have also been developed,'' Arora said.

Meanwhile, the Indian Institute of Science (IISc) and C-DAC signed a memorandum of understandinh on Friday to install the Param 10000 at IISc's supercomputing education and research centre in here.