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Our Bureau

`Since the business plans are capital-intensive, an assessment of the funds requirement should be made before finalising the quantum of the proposed rights issue'.

Kolkata , Dec. 27

LCC Infotech has formed a committee to study the amount of resources that would be required to fund the company's business plans.The committee comprises its Managing Director, Ms Kirti Lakhotia; Mr Praveen Jain, Director; and Mr Sushir Roy, an executive in the company.

LCC Infotech is at an advanced stage of negotiations with a US-based company for taking over the latter's back office automation work and setting up a BPO in Chennai for the purpose.

Mr Sidharth Lakhotia, Chief Operating Officer and Director of LCC Infotech Ltd, told Business Line that the company has decided to set up a 100-seater BPO project in Chennai.

Also in the pipeline is the proposal to set up a call centre and a management institute in Kolkata.

While earlier the proposed BPO in Chennai was expected to be funded from internal accruals, it was now felt that, since the company's business plans were capital intensive, an assessment of the funds requirement should be made before the quantum of the proposed rights issue of equity shares is finalised.

According to Mr Lakhotia, a meeting of the board of directors has been convened on January 4for consideration of a bonus issue.

"The question of the rights issue as well as the bonus issue are being considered by the Board of Directors at a parallel level," he said.

Mr Lakhotia said it would be premature to indicate the likely investment that would be required to implement the company's business plans.

LCC Infotech Ltd expects its revenue in 2004-05 to go up by 15 per cent from Rs 50 crore recorded in 2003-04.

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