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Zigma to invest Rs 105 cr for training centres

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CHENNAI, Jan. 24

THE Kolkata-based Zigma Software Ltd plans to invest Rs 105 crore over the next two years on setting up software development and training centres, educational institutions across the country and overseas acquisitions and forays.

Zigma was earlier known as G R Capital Markets, which was involved in capital market operations. Following the capital market shakeout, Mr Paramjit S. Bhorjee started Zigma in 1999-2000 with a new management and board. Zigma, an IT-enabled services company, focuses on animation, mechanical computer-aided design (M-CAD) and geographic information systems (GIS).

Mr Bhorjee told presspersons here on Wednesday that the expansion plan would be supported with an internal fund of around Rs 30 crore, preferential share allotment of Rs 50 crore and bank borrowings of around Rs 30 crore. The company's paid-up capital was Rs 22 crore.

The company's Director, Technical Services, Mr Sudharshan Reddy, said the company had tied up with Anna University in Chennai for setting up training centres in the University's 250 plus affiliated colleges.

Besides setting up its own centres and franchisee network, Zigma would target direct entry into colleges and has outlined Rs 25 crore investment for setting up Zigma branches in 50 colleges for providing high-end training in M-CAD and GIS, he said.

According to Mr Bhorjee, the company's full fledged operations in the ITES started only about a year ago, and the revenue for the current fiscal year ending March 31, 2002 would be around Rs 1 crore.

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