For a listed company, rechristening itself to sound software is the first step to a future plan of raising money from the public. Soon after the name change, the counter witnesses a sustained jump in price, providing a good platform for a public issue at a premium.

This is exactly what exactly happened with VMC Software, whose IPO opened for subscription on Wednesday.

A finance company originally incorporated as Vedani Mercantile Corporation, it changed its name to VMC Software late last year. Charging a high premium of Rs 85, the company plans to mop up Rs 5.5 crore. Since the beginning of this year, the scrip has risen from Rs 80 to the current level of Rs 205. For the gullibleinvestor, the offer would appear to be at a steep discount to the market price.

Brahma Capital and Securities had changed its name to BCS Software. The company has changed its name once again to rechristen itself Millenium Cybertech Limited. That sounds really hi-tech.

Vakrangee Limited has changed its name to Vakrangee Software. So what's in a name for this company? The scrip price has doubled to around Rs 22 in less than a month.

International Computech Engineering Services is the latest to play the name card. It will now be known as ICES Software. The scrip resumed trading on September 20, after a gap of five months, rising from Rs 18.10 to Rs 25.25.The speed at which a number of small companies are lining up issues at a premium could very soon bring back memories of the 1994 IPO boom.

Par Computer Sciences (International) Ltd, Logix Micro System, Swal Computers and Software Technology Group International are among the small IT IPOs lined up. The issue size ranges from Rs 3 crore to Rs 6 crore.