May 9, 2000
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|
Company |
Arraycom (India) |
Market Price |
Not listed |
Lead manager |
SBI Capital Markets
|
Listing At |
BSE, Ahmedabad
|
Opening/Closing |
May 9, 2000 / May 15, 2000 |
Promoters |
Jaisukhlal J Parekh, Atul Parekh, Gorsi Parekh
|
Associate Co. |
None
|
Managing Director |
Atul Parekh
|
Post-issue Stake |
45.59%
|
Issue |
|
Size |
Rs 585 million
|
Price |
Rs 65. Face value Rs 5, premium Rs 60
|
On Application |
Rs 16.25
|
On Allotment |
Rs 48.75
|
Objective |
Setting up a subsidiary in the US, strategic acquisitions, setting up in-house software facilities
|
Business |
|
Product |
Communication solutions, materials and components
|
Location |
Gandhinagar, Gujarat
|
Project cost |
Rs 727.1 million
|
Funded by |
Equity shares, share premium, internal accruals
|
Kensource projections |
(2001) |
Sales |
Rs 715 million
|
Profit |
Rs 128.5 million |
Earnings per share |
Re 4.5 |
Return on equity |
11% |
Comment | The company has strong fundamentals and scope for growth but the issue is a little overpriced now
|
Rating *
|
B
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
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