New Delhi, April 4 :     The B K Modi group plans to rename all joint ventures under ModiCorp in a manner that accords precedence to its foreign partners irrespective of their equity holdings in the company. The company is toying with the idea of replacing the Modi prefix in all its ventures with the name of its foreign partner. The move, ModiCorp sources say, will also help forge a separate identity in the welter of other Modi firms. ?There are too many Modis around. We want to establish a distinct identity,? a source said. Since the decision to change the name has wider implications for brand equity and corporate identity, the consent of overseas allies will be required before the process can be initiated. ?An approval from the joint venture partner will be required for this and talks with them are on,? the source said. The management has decided to merge the three Xerox companies ? Modi Xerox Ltd, Modi Xerox Financial Services Ltd and Modi Xerox Software Services Ltd ? into a renamed entity called Xerox ModiCorp. Other group companies will also be rechristened even if the foreign partner has a lower equity stake. The other joint ventures under the ModiCorp umbrella are Modi Telstra, Modicom, Modi GBC and Graphtec. ModiCorp, a privately held company, is expected to offload some of its equity to the public in the next 6 to 12 months. The company will make an initial public offering, the size of which is being worked out. ?We are in the process of finalising the details. The company is in a growth phase, so the size of the public offering will be large,? the source said. ModiCorp, with an equity base of Rs 467 crore, is also considering raising loans from financial institutions to carry out expansion plans. The recent reorganisation of the B.K Modi group has shifted the focus on information technology and communications but the company has decided to operate in these areas only as a service provider. The Modi group has set its sights on the high-potential area of Internet services. ?We are already talking to several international companies and a joint venture will be announced soon,? the source said.