Though the oilfield services provide high margins, due to its tender oriented orders, the company is not able to utilise the potential to the full extent. Thus, the company's board has felt the need of diversifying into IT enabled services which is most feasible attempt and provide regular business opportunities to the company, said Dinesh. To facilitate the diversification, the company is seeking the shareholders approval and has called for an extraordinary general meeting scheduled on March 15, 2000. The company proposed to issue 10,00,000 equity shares of Rs 10 each at a premium, to be decided as per Sebi regulations later, on a private placement basis to the financial institutions and high net worth individuals.

AIL is engaged in the business of conducting oilfield services including seismic surveys for identifying the presence of hydrocarbons and reservoir data acquisition since 1994. Earlier during January 1994, AIL has raised capital amounting to Rs 5.31 crore through a public issue, at a premium of Rs 20 per share. ICICI has a venture stake in the company up to 20 per cent, said Dinesh. The company has gained expertise in the fields of topographic survey, which would give additional advantage to AIL.