The Chennai-based software education/training and software development company is also offering equity holdings to Hassan A Karim Alghatani Sons (HAK) of Saudi Arabia, Empire International Holdings Ltd and Mackertich Consultancy Services. The total holding of these companies would be more than 6 per cent.

While HAK would acquire 2.32 lakh equity shares, Empire International and Mackertich Consultancy will have 2 lakh equity shares each in the company.

The decision to offload part of the promoter's stake in KRSL follows the forthcoming initial public offering (IPO) that is slated for August 30. The issue, which will close on September 6, has a size of Rs 3.2 crore (32 lakh shares of Rs 10 each).

Out of the public issue, 3.2 lakh shares of Rs 10 each are reserved to the employees of KRSL and 2.6 lakh equity shares to NRIs/OCBs/FIIs, while the rest is being set aside for the public.

Addressing a press conference here on Wednesday, KRSL general manager (finance) R Shivagurunathan said: ``In the post issue scenario, the share holding of the company's joint venture partner - Radiant Systems Inc of the US - will come down marginally.''

The proposed IPO is to partly fund the Rs 10 crore project for setting up two ERP training and software development centres in Chennai and Bangalore and eight education centres in other cities like Coimbatore, Hyderabad, Pune and New Delhi.