"We are planning to invest Rs 20 crore in the next one year in expansion of our operations. For this, the company will be offloading about 40 per cent of its equity and raise the money through an initial public offering and from venture capitalist funds," Global Infosystems Ltd , Managing Director , C L Agrawal said in a statement here.

The company would open four certified distant education centers in Delhi, Mumbai, Bangalore and Calcutta with an investment of Rs 1-1.5 crore at each centre in the first phase of its operation, he said , adding , the centres would also host the online examination of the overseas universities. It would also open 100 off-line centres, including 88 franchisees, in the next two years, Mr Agrawal said. Stating that the company was in the course of finalising foreign tie-ups for education joint ventures, Mr Agrawal said , "We are expecting to generate Rs 18 crore revenue next year and subsequently touch the Rs 50-70 crore figure." (PTI) Global Infosystems has already entered into an agreement with the American Institute of Management and Technology of the US under which the institute would offer an MBA degree's in seven disciplines and M.Sc in computer science in India online.

It is also holding talks with the Fore School of Management,New Delhi and IMT Ghaziabad and is expected to have degrees from 20 different universities on its portal, he added.