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July 21, 2000
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|
| Company |
Daisy Systems |
| Market Price |
Not listed |
| Lead manager |
Aryaman Financial Services
|
| Listing At |
Hyderabad, Ahmedabad, Pune, Delhi
|
| Opening/Closing |
July 21/July 25
|
| Promoters | Achutuni Sundar, A V Laxmi
|
| Associate Co. |
None
|
| Managing Director |
Achutuni Sundar
|
| Post-issue Stake |
75%
|
| Issue |
|
| Size |
Rs 26.25 million
|
| Price |
Rs 20
|
| On Application |
Rs 20 |
| On Allotment |
Nil |
| Objective |
Part finance expansion and infrastructure requirements
|
| Business |
|
| Product |
Assembling and trading of computers and peripherals
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| Location |
Hyderabad |
| Project cost |
Rs 95 million
|
| Funded by |
Mainly equity and a term loan of Rs 10 million |
| Kensource projections |
(2001) |
| Sales |
Rs 91 million
|
| Profit |
Rs 6 million
|
| Earnings per share |
Rs 1.22
|
| Forward P/E |
16.32
|
| Post-issue share capital |
Rs 71.8 million
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| Return on equity |
6% |
| Comment | Low margins, slow growth, promoters have no experience in software development. Premium is not justified.
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| Rating *
|
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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