The company has recently acquired 6500 sq. feet at the Tidel Park, Chennai. The centre is expected to house more than a 100 professionals when fully operational.

CSN Murthy, head, International Marketing - Asia-Pacific, of the company, said that the opening up of a development centre in Chennai would help it be present where the best IT talent is available. Also, spreading out development centres across cities makes better human resource policy in terms of attracting and retaining best talent.

The company has put in place an employee stock option plan. Virinchi Employees Welfare Trust has been created with 10 lakh shares in it. All employees would be covered by the stock option plan, Murthy said.

The company's areas of focus include B2B e-commerce, system integration, off shore development, IT consulting and infrastructure consulting. It plans to target the overseas market through marketing offices in Malaysia and the United States. The company will tap the capital market with an IPO on August 9. It will issue 30 lakh shares at Rs 19 per share (face value Rs 10 plus Rs 9 premium) aggregation Rs 5.7 crore.