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Company |
Hughes Tele.com (India) |
Market Price |
Not listed |
Lead manager |
Kotak Mahindra Capital Company, ICICI Securities and Finance Company |
Listing At |
Bombay, NSE |
Opening/Closing |
Book bldg - August 29/September 5. Fixed Price - September 20/September 25 |
Promoters |
Hughes Electronics Corporation USA, ALLTEL Corporation USA, Ispat Group
|
Associate Co. |
None
|
Managing Director |
Prakash Bajpai
|
Post-issue Stake |
52% |
Issue |
|
Size |
Rs 7.49 billion (Rs 6.74 billion book bldg + Rs 0.75 billion fixed price)
|
Price |
Rs 10, Floor price Rs 12
|
On Application |
Minimum bid - 1100 shares
|
On Allotment |
— |
Objective |
Expansion of company's exisiting wireless and wireline telecommunications infrastructure.
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Business |
|
Product |
Basic telephony services in Maharashtra
|
Location |
Bombay, Maharashtra |
Project cost |
Rs 34.85 billion
|
Funded by |
Equity, debt
|
Kensource projections |
(2001) |
Sales |
Rs 1.86 billion |
Profit |
Loss of Rs 2.21 billion
|
Earnings per share |
— |
Forward P/E |
— |
Return on equity |
— |
Comment |
Profit expected after 2004, why buy at a premium now? Unless, of course, you are a long-term investor.
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Rating *
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D
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* A=Subscribe & Hold; B = Subscribe & Watch C=Subscribe & Sell; D = Avoid
By Kensource Information Services Pvt Ltd.
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