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Company |
Prosoft Systems
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Market Price |
Not listed |
Lead manager |
Fedex Securities
|
Listing At |
Bangalore, Ahmedabad, Hyderabad
|
Opening/Closing |
October 18/October 23
|
Promoters |
Mohan Kumar K N
|
Associate Co. |
None
|
Managing Director |
Mohan Kumar K N
|
Post-issue Stake |
24.19%
|
Issue |
|
Size |
Rs 61.6 million
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Price |
Rs 10
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On Application |
Rs 2.5
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On Allotment |
Rs 7.5
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Objective |
Finance diversification project into medical transcription and an office in the US
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Business |
|
Present |
Corporate training, placements, software development and education
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Project |
Medical transcription centre
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Location |
Bangalore, Baroda
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Project cost |
Rs 114.1 million
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Funded by |
Equity and loan |
Kensource projections |
(2001) |
Sales |
Rs 18 million
|
Profit |
Rs 4 million
|
Earnings per share |
Re 0.35 |
Forward P/E |
37 |
Post-issue equity |
Rs 102.6 million
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Return on net worth |
7%
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Comment |
The promoters are inexperienced in IT. Initially a software education company, which started software development recently, wants to get into medical transcription. Highly risky. Small promoter holding.
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Rating *
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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.
Money
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