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Company |
Fortune Infotech
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Market Price |
Not listed |
Lead manager |
Doogar & Associates Limited
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Listing At |
Ahmedabad, Vadodara
|
Opening/Closing |
November 10/November 16 |
Promoters |
Fortune Fiscal Limited and and 17 other individuals
|
Associate Co. |
Fortune Infotech (USA) Inc. Fortune Fiscal Limited
|
Managing Director |
Kantilal K Patel
|
Post-issue Stake |
74.07%
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Issue |
|
Size |
Rs 19 million
|
Price |
Rs 10 |
On Application |
Rs 10 |
On Allotment |
— |
Objective |
Expansion of Medical Transcription facilities, Setting up software development center
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Business |
|
Present |
Medical Transcription Services and training, software development
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Proposed Project
|
Expansion of existing facilities
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Location |
Vadodara
|
Project cost |
Rs 73.74 million
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Funded by |
Equity, term loan |
Kensource projections |
(2001) |
Sales |
Rs 22.5 million
|
Profit |
Rs 4 million
|
Earnings per share |
Re 0.71 |
Forward P/E |
14 |
Post-issue equity |
Rs 54 million
|
Return on net worth |
6% |
Comment |
Size of operations is too small. Return on net worth is poor, even at its 2002 EPS it looks expensive.
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Rating *
|
D
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* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
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