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July 6, 2000
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|
| Company |
Recursion Software |
| Market Price |
Not listed |
| Lead manager |
Nagarjuna Financial Services, Bajaj Capital
|
| Listing At |
Hyderabad, Bangalore
|
| Opening/Closing |
July 6 / July 13 |
| Promoters | Krishna Vemuri, Ramaiah Rao, Ramchandra Rao
|
| Associate Co. |
Sourya Infotech
|
| Managing Director |
V Krishna
|
| Post-issue Stake |
74.58%
|
| Issue |
|
| Size |
Rs 10 million
|
| Price |
Rs 10
|
| On Application |
Rs 5
|
| On Allotment |
Rs 5
|
| Objective |
Software development facility at Hyderabad, branch office in the US
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| Business |
|
| Product |
Re-engineering of Software, Web enablement of legacy applications, E-commerce & Internet related programming, database and system administration
|
| Location |
Hyderabad
|
| Project cost |
Rs 24.78 million
|
| Funded by |
Equity and term loan of Rs 8 million
|
| Kensource projections |
(2001) |
| Sales |
Rs 34 million
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| Profit |
Rs 7 million
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| Earnings per share |
Rs 1.70
|
| Return on equity |
17% |
| Comment | The company seems to be on to a fresh start. Interesting tie-up with global player Merant.
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| Rating *
|
C
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
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