The company provides IT training and undertakes software projects through its Lambent division. The funds raised through the issue will be utilised for setting up software development centres and strengthening training operations.

At present, the company has 30 training centres and 20 more are in the process of being signed up. The company is planning to have 80 centres by March 2001. Training activities contribute 75 per cent of the company's revenues and projects contribute the rest. The training business has a net profit margin of 25 per cent, said the managing director. The company plans to tap the south-east Asian markets for business. It has tied up with VIP Sdn.Bhd in Malaysia and entered into a MoU with NetRoute Asia in Singapore.

Expansion through the franchise route is also being planned by the company. It follows an unique model where the staff employed at the franchise centre would be on Radiant's rolls. This would ensure that the quality of the service is maintained at all centres, said Giridharan.

Radiant has recieved venture capital funding from Gujarat Venture Finance Ltd (GVFL) and KVP ventures. Kothari Pioneer and Kotak Mahindra will pick up stake in the company and equity shares worth Rs 4 crore have been reserved for mutual funds, said Giridharan.

The company had finished the last fiscal with a revenue of Rs 7.68 crore and a net profit of Rs 2.19 crore. In the first quarter of this financial year, the company recorded a revenue of Rs 4.55 crore and a net proft of Rs 1.01 crore. A revenue of Rs 30 crore and a net profit of Rs 6 crore is targetted for the current fiscal. The company currently has an equity base of Rs 4.2 crore which would be increased to Rs 5.8 crore after the proposed issue.

Promoters will hold 52 per cent of the post-issue capital, while KVP ventures and GFVL Ltd's stake will be lowered to 8 per cent and 6 per cent, respectively.