Kale Seeks Advice From I-Sec, Avendus On Hunt For Funds

Mumbai: | Updated: Oct 18 2002, 05:30am hrs
Kale Consultants, the Pune-based developer of software products for airline and banking sectors which has also forayed into the business process outsourcing segment, has mandated investment banks I-Sec and Avendus Advisors to help it identify options to fund growth plans.

Speaking with eFE Kale Consultants managing director Vipul Jain said, We have some growth plans which may require us to raise money and have mandated these investment banks to help us identify ways of funding these plans.

Kales growth plans are currently in the BPO space. The company has a processing centre at present for the airlines sector which looks at end to end processes like revenue accounting and sales audit among others for the airlines industry.

The company has plans of expanding in this segment. Our growth plans are dependant upon raising capital at the appropriate time, says Mr Jain.

He was not willing to expand on how much the company plans to raise.

Kale Consultants Ltd, which went public in 1999 has three development centres in India and has a global presence with six international offices.

Kales solution suite for the airline industry includes products for revenue accounting, proration, fare auditing, cargo operations, cargo ground handling, cargo pricing and revenue accounting and business intelligence solutions. The outsourced end-to-end revenue accounting and recovery services solution suite was launched recently.

Kales banking division has solutions for retail banking, trade finance and e-banking.

The Kale Consultants scrip closed at Rs 46.80 on the BSE on Thursday, down 25 paise since the previous close. The scrip saw a volume of 5207 shares on the BSE on Thursday.