Managing director of the company Sunil Kumar Mall told The Financial Express that Kanika is planning to launch two gateways over the next few months and has already roped in the vice president of the Ahmedabad-based Wilnet Communications, the leading ISP in the state of Gujarat and part of the pharma major Cadila Pharmaceuticals stable, Mukul Sharma as the head of Kanika's ISP division.

Apart from the ISP business, the two-year old Kanika which already has a turnover of Rs 2.1 crore which it hopes to increase to Rs 6 crore this fiscal, Mall also disclosed that the company would focus mainly on consolidating its presence on the international front in the near future.

Incidentally, the company has already formed a wholly-owned subsidiary in Singapore and is in the final stages of forming subsidiaries in the UK and the US as well.

According to Sunil Bansal, vice president, finance of KIL, a sum of Rs 5 crore has been earmarked for expansion into the international market. In addition, Kanika is also negotiating with the $100 million Novatel Wireless Inc to form a joint venture with the aim of entering the high-speed mobile data market. Novatel is also expected to introduce new generation products employing high-speed data technologies based on GSM/GPRS network.

Specialising in providing total customised software that caters primarily to needs of industries like manufacturing, healthcare, financial services and transportation, Kanika has recently bagged a $1 million order from the US-based SWAP Mill for designing and development of e-commerce web based portal.

The company has also bagged an order from the Andhra Pradesh government for operating a portal, APROADSonline. com for the state government. While KIL is building several portals for several organisations, it has launched an exclusive portal as well named Kanikaonline.com and is proposing to shortly launch another portal on the capital markets as well as real estate property.

In an attempt to part-finance its expansion plans, KIL is coming out with an initial public issue of 36,00,000 equity shares of Rs 10 each at par aggregating Rs 3.6 crore. The subscription, which opens on July 11, would be open for a week before closing on July 17, Mall said.