Akshay Software works on e-commerce, ERP and CRM implementation areas and client server technologies. Earlier, it had come out with a rights issue in December last year for placing four lakh equity shares at a price of Rs 80 per share, aggregating Rs 3.20 crore. The company is also planning to come out with a public issue of 16 lakh shares of Rs 10 each at a price of Rs 80. The company has already filed the draft document with the Securities and Exchange Board of India. Lead managed by SBI Capital Markets, the shares are proposed to be listed at Mumbai, Ahmedabad and Bangalore.

There are at present two venture capital investors in the company, Gujarat Venture Finance and Sidbi. These companies, investors for almost 4 years, had also subscribed to the rights issue. Gujarat Venture Capital Fund's post-issue holding will be around 23 per cent, Taurus Mutual Fund will have 5.35 per cent stake and public will hold 25 per cent stake. During the financial year 1999-2000, the company had announced an interim dividend of 15 per cent. For the first six months of fiscal 2000, the company recorded a net profit of Rs 1.1 crore on total income of Rs 3.22 crore (exports accounted for Rs 2.78 crore).

Akshay Software has tie-ups with IBM, Oracle, Siebel and MicroStrategy in vrious fields and has clients like Volkswagen of Germany and Electronic Healthcare Systems of the United States. Akshay Software had recently launched domain registration services for Indian companies and individuals.