Mr Lalvani did not disclose the size of the proposed offering, but said, "What we are doing is holding on right now to get our products out locally and globally thereby creating the right marketing impression for our company before going in for the IPO."

The company which was set up in 1998 is basically into portal management systems and e-commerce solutions. Activ8 has had two rounds of investors according to Mr Lalvani, who was unwilling to disclose names of the investors. The company's clients include the entertainment portal gslot.com and Chalomumbai.com.

The company is currently developing the second version of its product Intraflow which is a content management system. This product will be launched by the company in mid-December along with two other projects Portal Crazy and Ayezan.

Portal Crazy is a consortium of four companies which are Active8, Intel, Microsoft and Net Magic, that are brought together by Active8 Technologies to market the second version of Intraflow. Activ8's B2B commerce suite Ayezan, entails content management, cataloging services, e-business integration, financial services and legal compliances and logistics. The hardware for both these products is powered by Intel.