Maharashtra-based Synergy Log-In System is offering 67.4 lakh shares in the ratio of one share for every share held in the company. The equity offer is at a discount to the current market price of Rs 15 on the Mumbai Stock Exchange.

The company has already filed the offer document with the Securities and exchange Board of India is awaiting the nod from the market watchdog. The issue is lead managed by Ind Global Financial Trust.

The company has a paid up capital of Rs 6.74 crore. Post-offer, the equity will double to Rs 13.44 crore. The company is in the field of software.

Synergy Log-IN System has seen its turnover rise from Rs 2.44 crore in 1994-95 to Rs 7.72 crore for fiscal 1998. Software exports have risen from Rs 15 lakh in fiscal 1996 to Rs 3.9 crore in fiscal 1998. The company's clients include HLL, City Bank, Global Trust Bank, Bank of India,Bank of Bahrain and Kuwait, IDBI and PNB Asset Management Company.

Promoter's currently hold 44.73 per cent in Synergy Log-In System. The balance of the paid up capital is held by corporates (9.28 per cent), NRIs (0.17 per cent) and public (45.82 per cent).

Some of the other software firms who are cashing in on the software boom on bourses are Sierra Optima, Sonata Software and SQL Star International.

Sierra Optima is planning to take the private placement route to raise fresh equity shares of around 4-5 lakh at a slightly higher premium to the market price of the scrip. Sonata Software Ltd is coming out with an IPO at a premium between Rs 65 to Rs 80 per share. The company is offering 25.22 lakh shares of Rs 10 each aggregating between Rs 18.91 crore and Rs 22.7 crore.

SQL Star International is exploring the possibility of a public issue at a premium. SQL is also weighing the option of taking the private placement route to raise equity funds.