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April 25, 2000

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 Company  Omni Ax's Software
 Market Price  Unlisted
 Lead manager  Systematix Corporate Services
 Listing At  BSE, Chennai
 Opening/Closing  April 24, 2000/April 27, 2000
 Promoters  P G Senthil, T R Sankara Narayanan, Thilka Vishwanathan, Joy Manuel
 Associate Co.  None
 Managing Director  P G Senthil
 Post-issue Stake  52.50%
 Issue  
 Size  Rs 71.2 million
 Price  Rs 15 (Rs 10 per share, Rs 5 premium)
 On Application  Rs 7.50
 Allotment  Rs 7.50
 Objective  Expansion of software development facilities and training center, set up offices at Chennai, the US and Singapore.
 Business  
 Product  Customised software, training
 Location  Chennai
 Project cost  Rs 154.8 million
 Funded by  Share capital, secured term loan, internal accruals
 Kensource projections  (2001)
 Sales  Rs 39 million
 Profit  Rs 19 million
 Earnings per share  Rs 1.9
 Return on equity  12%
 Comment  Small player with an impressive order book position. Price likely to appreciate in the near future. A short-term investment.
 Rating *  C

* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid

By Kensource Information Services Pvt. Ltd.

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