Meghashyam said Lotus Inc had already indentified and acquired 600-acreplots for seven similar projects in Surjapur, Hosur, Shivanasamudra,Nelamangala, Hassan, Dharward or Karwar, Sirsi-Shimoga belt in Karnataka. Hesaid all these parks were expected to be operational within five years. Eachproject was estimated to cost Rs 800 crore or more, he added.

Meghashyam told eFe that Lotus Inc would choose six of these MNCs to formthe consortium to set up a hi-tech software park in Bangalore. The firmsLotus aims to rope in include Microsoft, Philips Software, Siemens Software,British Aerospace, APC, Convergent Technologies, Nortel Networks, AlcatelSoftware. The consortium would be registered as a private limited company.

He said the park would come up in Hoskote at a outlay of Rs 800 crore. The600-acre park would have 60,000 computer terminals and 30,000 villas,shopping complexes, hospitals, banks, free transportation facilities foremployees, an air strip.

The turnover from the campus was expected to be Rs 2,000 crore per annum,Meghasyam said. The formation of the consortium would be based on the equitysharing of each company. Six selected software firms would put in Rs 60crore each (totting up Rs 360 crore).

FIIs including Morgan Stanley, Prudential ICICI, Templeton Asset Management,Alliance Capital, Jardine Fleming, Zurich Mutual Fund - would together bringin Rs 180 crore while Lotus Inc would contribute Rs 40 crore.

The park would also feature 200 room five-and-three-star hotels. Thefive-star hotel would mean an investment of Rs 90 crore while its three-starhotel Rs 60 crore. A Rs 6-crore 50-bedded hospital would also come up at thecampus.

To raise the rest of the funds, the consortium would float a Rs 240 croreIPO. The issue at a premium of Rs 90 (face value Rs 10) was expected to hitthe market in July, Meghashyam said.

He said the idea for the park was conceived and developed by Lotus Inc. Suchparks were expected to solve administrative and logistical hassles, he said.According to him, 24 similar parks exist in England and 36 in the US.ECC Larsen and Toubro Ltd would take care of the park's architecture, civil,structurural, electrical, plumbing, sanitary, process control andautomotaion activities. ICICI and Citibank would provide the housing financeto L&T on behalf of the companies involved in the consortium.

He said the park would have transit picks-n-drops facility with a fleet ofcars and buses with Rs 25 crore earmarked for vehicle purchase. Theconsortium would induct over 400 ex-armymen to ensure campus security. LotusInc would manage the park for 10 years and later the contract would berenewed.

And now for BSOPs
After ESOPs, the Lotus-led consortium would reserve Rs 20 crore towardsbusiness stock option programme (BSOP) to bring in consumer and food chainslike Viveks, Nilgiris, Food World and Levis, he said. ``These chains willget dividends based on the profits the park makes besides their ownearnings,'' Meghashyam said.