In its Initial Public Offering, software manufacturer SS&C Technologies, as shared by the company in its filing with the Securities and Exchange Commission on Monday, is looking at raising about $300 Million.

The Windsor, Connecticut based company is involved in making software which automate computer functions at various financial service firms.

As confirmed by SS&C, out of all the funds raised via the IPO, some of it might be used by the company to buy back all or a portion of its bond which are going to be due in 2013. No plans, however, to pay any dividend have been shared, because the company wants to invest all earnings "in the foreseeable future will be used for the operation and growth of the business".

With more and more companies looking to take advantage of the changing market scenario to raise funds, the IPO market has lately heated up. Performance of the newly listed stocks, however, has been mixed.

For the nine months up-to September 30, SS&C had reported a 5.4% hike in earnings as compared to the same period last year. Revenue, on the other hand, declined by 5.6% to $211.7 Million.