The initial public offer is lead managed by Systematic Corporate Services Ltd. Interestingly, the lead manager is also offering `safety net' to investors by offering buy-back facility of maximum 100 shares from the original allottees for six months after listing of the shares.

For this, Systematic will furnish a bank guarantee of Rs 1.25 crore to the Bombay Stock Exchange.

Of the total shares on the offer, around 25 lakh shares are reserved for non-resident Indians (NRIs) and overseas corporate bodies (OCBs) and also permanent employees of the company. The shares will be listed on the stock exchanges of Bombay and Chennai.

According to managing director of OSSL K S Ramaswamy, the company is the authorised representative in India for Apple Computers of USA for selling mostly hardware Apple products for the past five years. Now, Apple is insisting OSSL to develop their both hardware and software products, related to E-commerce business in India at its development centre in Chennai.

OSSL is raising funds from the public to invest in the development of infrastructure including building its own software centre, acquisition of state of the art hardware and software and training personnel.Specialised in client server technology and ERP solutions provider to corporate sector, the company is now planning to diversify into E-commerce and back-office operation solution provider for the industry.