First Fintec Ltd

First Fintec Ltd

The Hyderabad-based IQMS Software Ltd is implementing an expansion and technology upgradation project at a cost of Rs. 13 cr. The project is being financed mainly by promoter contribution of Rs. 7.20 cr Bank of Madura which appraised the project will forward a term loan of Rs. 1.30 cr and a Public offer of Rs 4.50 cr. The main object of the issue is to set up the company's Software development project Web enabled business/E-commerce and Management consultancy to invest in overseas company to support its marketing activities to acquire hardware software and other assets for the project.IQMS was incorporated on 3rd March 2000 as a public limited company with the objective to design and market software solutions to cater to the growing need of maintaining the data required for the management and the decision makers of large and small companies on the World Wide Web.IQMS is a Web-enabled Software Solution Provider with a primary focus on the Application Service Provision Model. Its expertise is largely in Internet Technologies and the main goal of the company is to be Application Service Providers of generic MIS systems targeting SME's at a global level.Further to augment the marketing and project office in central America the company plans to invest in an overseas company to the tune of about US $ 9.00 lacs (approx. Rs 391.00 lacs) which will market and extend other support for the marketing of the company's products and services. In addition the company has entered into a MoU with Softlink Solutions Inc. Chicago USA for designing development and implement software projects for Softlink at mutually agreed terms for each project.