June 5, 2000
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|
|
Company |
FI Sofex |
Market Price |
Not listed |
Lead manager |
Ind Global Finance Trust |
Listing At |
Bangalore, Madras |
Opening/Closing |
June 5, 2000 / June 9, 2000 |
Promoters |
H R K Vasan, Surya Rao
|
Associate Co. |
FI Sofex LLC, Lilac Enterprises
|
Managing Director |
H R K Vasan
|
Post-issue Stake |
52.33%
|
Issue |
|
Size |
Rs 22.8 million
|
Price |
Rs 20 (Rs 10, premium Rs 10)
|
On Application |
Rs 15
|
On Allotment |
Rs 5
|
Objective |
Expansion of software development facilities, applied graphics division, b-line catering to the international fashion retail market and enterprise management facilities
|
Business |
|
Product |
Software development |
Location |
Bangalore
|
Project cost |
Rs 49.94 million
|
Funded by |
Equity, non-convertible debentures from KSFC
|
Kensource projections |
(2001) |
Sales |
Rs 13.40 million
|
Profit |
Rs 3.35 million |
Earnings per share |
Rs 1.10 |
Return on equity |
5% |
Comment | For a software company, FI Sofex has shown very little growth. There is nothing to justify the premium. |
Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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