Mr Srinivasan said, "Post public issue, the promoters will keep 50 per cent stake." The issue of 55 lakh shares closes on February 12. Each share is priced at Rs 10 with a premium of Rs 6. Further, 28 lakh shares have been reserved for banks, mutual funds and foreign institutional investors on competitive allotment basis and NRIs/OCBs on competitive and repatriable basis.

IQ Infotech plans to focus on design, development and manufacture of embedded software control systems for weapons systems used in India's defence services, consumer electronics and automotive parts. Mr Srinivasan said that the company has already bagged orders worth Rs 3.5 crore for the fiscal 2001-02. These include an embedded system - Fatigue Meter - used to monitor fatigue levels in aircrafts MIG and Jaguar as well as a weapon system for launching torpedos from helicopters. The company also plans to focus on providing sofwtare and hardware solutions for call centres. In this regard, it has tied up with a American call centre firm for imparting the necessary training.

Formed in 1985, the erstwhile Systems Dimensions Pvt Ltd is also engaged in medical transcription, software development, quality assurance and standardisation. The company reported a total income of Rs 6.50 crore in the March 31-Nov 15 2000 period, up from Rs 2 crore for 1999-2000 (fiscal ending March 31, 2000). During the same period, net profit rose to Rs 1.1 crore (Rs 13.65 lakh).