Network Solutions managing director Sudhir D Sarma told The Financial Express that the company had plans to float an IPO within a year. However, he declined to provide details regarding the size and objective of the issue.``We realised our potential and presently we are in the process of putting all provisions in place before we go public,'' he added.

According to Sarma, Network Solutions will introduce an employee-stock option-plan (ESOP) in three weeks. Under the plan, 15 per cent of the company's total equity shares (3.5 lakh shares) would be reserved for ESOP.Network Solutions has identified US as a potential market for its business.

To strengthen its presence in the country, the company would turn its project office in US to a full-fledged branch office or a 100 per cent subsidiary depending on the recommendations made by Ernst & Young, he said.In case it decided to set up a subsidiary or a registered office, the company would be required to change its name in the US since another company by the same name (Network Solutions Inc) was already in existence there, he added.

Sarma said, ``We are focusing on the US market for networking solutions and probably we are the only Indian company seeking to take network solution services to the US market.'' The company was currently in negotiation with a couple of companies in US including a top company that has global presence, he added.

Sarma said since inception in 1993, Network Solutions has grown considerably in terms of value and volume and now realised that a restructuring exercise was required to evolve a better business strategy and right focus for its future.

Playing an advisory role, the consultancy firm was expected to provide guidelines with regard to restructuring the company with separate divisions -software and networking. It would also include spinning off or de-merging groups or businesses into separate entities.

The firm would also concentrate on valuation in terms of business potential, cash flows, business synergies, fund requirements, long term business potential and future plans.

According to sources, the company has recently received venture capital funding worth Rs 3.5 crore from Intel. In future, the company might go for another VC partner, if suggested by Ernst & Young.