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Comp-U-Learn IPO on July 3

MUMBAI: Comp-U-Learn Tech India Ltd, a company dealing in software development and training solutions, is coming out with its initial public offer of 25,00,000 equity shares of Rs. 10 each for cash at par aggregating Rs. 2.50 crores. The issu es open on July 3, 2000.

The objective of the issue is to part-finance the company's Rs. 8.90-crore project investing in marketing and developing offices in the US, expansion of existing courseware development centre at Chennai, marketing of the company's products such as TIMES, ROLE, SIMS, PFMS and TIME SHEET and for listing of the company's shares at the Hyderabad and Mumbai Stock Exchanges.

Of the project cost, besides the public issue, the promoters and their associates are bringing in Rs. 5.50 crores, while Rs. 90 lakhs comes from a term loan from Bank of Madura Ltd, which has appraised the project. -- Our Bureau