Cybermate Infotech had tapped the market with a par issue and received an oversubscription of around 27 times. Compudyne Infosys is also planning to offer 25 lakh shares at Rs 10. Fortune Informatics is engaged in the office automation and document solution management. The government of Andhra Pradesh is a major client of Fortune Informatics. According to market sources, the company will soon file the offer document with Sebi. Meanwhile, Polaris Software Labs, which is charging the highest premium among the software IPOs, is likely to open for subscription either in the end of July or the first week of August. The public issue ispriced at Rs 180-210 per share.

Although investors have in the past made a lot of money in software IPOs, it may not be an encore this time around. Firstly, the software stocks in the secondary market have lost sheen and are on a downtrend. Second, a host of name-changers are among the software IPOs lined up for subscription. Subex Systems, for example, is offering 9.71 lakh shares at Rs 75 per share. Helios & Matherson Information Technology, formerly Express Financial Exchange Ltd, is offering 21.63 lakh shares at a price of Rs 50, aggregating Rs 10.81 crore. Another company which is tapping the public in its new avatar is VMC Software, formerly known as Vidhan Mercantile Company. VMC Software is charging a premium of Rs 85, which is more than Sonata Software's premium of Rs 80.

Also lined up is SQL International, which is offering 26 lakh equity shares at a premium of Rs 45, aggregating Rs 14.3 crore. The issue is opening for subscription on June 18.

Akshay Software has also lined up an IPO at a veryhigh premium of Rs 70 and the company is offering 10 lakh equity shares along with an offer for sale. Amex Information is another IPO candidate which is tapping the public with a premium of Rs 40.