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Company |
Tabassum International
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Market Price |
Not listed |
Lead manager |
Aryaman Financial Services |
Listing At |
BSE, Ahmedabad, Hyderabad
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Opening/Closing |
September 6/September 12 |
Promoters |
Tabassum Govil, Milind Dabke
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Associate Co. |
None
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Managing Director |
Tabassum Govil
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Post-issue Stake |
60% |
Issue |
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Size |
Rs 40 million of which Rs 8 million is reserved for banks/FIs
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Price |
Rs 10
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On Application |
Rs 5
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On Allotment |
Rs 5 |
Objective |
Set up office, integrated studio, Internet-based entertainment web site, fixed assets
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Business |
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Product |
Television software, stage shows, event management.
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Location |
Bombay |
Project cost |
Rs 65 million
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Funded by |
Equity and internal accruals
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Kensource projections |
(2001) |
Sales |
Rs 25 million |
Profit |
Rs 8 million
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Earnings per share |
Re 0.80 |
Forward P/E |
13 |
Post-issue equity |
Rs 100 million |
Return on equity |
8% |
Comment |
Operations too small. The company itself says it is 'not capable' of airtime marketing. The website is not likely to yield returns. Projecting a 2100 per cent turnover growth! What is the company without Tabassum? The only attraction is pricing.
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Rating *
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C for risk-lovers, D for risk-averse
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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
IPO Analysis
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