The company is also entering into the software development business with a possible acquisition. Talks are on with a Bangalore-based infotech firm with a revenue of Rs 3 crore for takeover.

A final decision to this effect is expected within the next two months. Indications are that the acquired firm will be merged with Edutech Informatics.

Edutech Informatics is a joint venture between the NRIs-promoted Edutech Holdings India Ltd and the Singapore-based Informatics Holdings Ltd with an equity participation of 60 and 25 per cent respectively, while the staff and individuals hold the rest.

Following the equity infusion from the venture capital fund, the equity stake of all promoters would come down proportionately. Leading venture capitalists, including ICICI Venture Fund Management Co Ltd, have evinced interest in picking up stake in the company.

Over the next two years, the company would go in for a maiden public issue in the country. However, the main promoters - Edutech Holdings - would have the controlling stake of 51 per cent in the venture following the IPO, Edutech Informatics India managing director & CEO Pradeep Tripathi told The Financial Express.

Over the next four years, Edutech Informatics would have an annual revenue of Rs 100 crore and these business plans would help the company get a good premium when the proposed IPO hits the primary market. In the first year of its operations, the company achieved a turnover of Rs 10 crore.

During 2000-01, the company would invest Rs 20 crore for expansion projects including setting up an additional 200 training centres. Currently, it has over 100 such centres which will go up to 150 by the end of March 2000, Tripathi said.

The Informatics group was founded in 1983 and has 226 specialised computer education centres across 26 countries. Edutech Informatics has partnership with major IT vendors including Microsoft, Oracle and Sun Java and offers their respective certified courses. The company was recently appointed national training partner for Lotus education in India.

The Gurgaon-based Edutech Informatics was set up in August 1998 with the Informatics group deciding to invest in the burgeoning Indian infotech market. Between 1993 and 1998 Informatics was present in India through a master franchisee agreement.