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|
|
| Company |
Shine Computech
|
| Market Price |
Not listed |
| Lead manager |
Aryaman Financial Services |
| Listing At |
BSE, Ahmedabad, Hyderabad
|
| Opening/Closing |
September 11/September 15 |
| Promoters |
Rajesh Agarwal, Sushil Sapra, Indermal Agarwal
|
| Associate Co. |
None
|
| Managing Director |
Indermal Agarwal
|
| Post-issue Stake |
50% |
| Issue |
|
| Size |
Rs 75 million
|
| Price |
Rs 15
|
| On Application |
Rs 3.75
|
| On Allotment |
Rs 11.25 |
| Objective |
Set up software development and training centre, provide Internet services
|
| Business |
|
| Product |
Software and hardware trading, consultancy
|
| Location |
Bombay |
| Project cost |
Rs 105 million
|
| Funded by |
Equity
|
| Kensource projections |
(2001) |
| Sales |
Rs 41 million |
| Profit |
Rs 2 million
|
| Earnings per share |
Re 0.20 |
| Forward P/E |
72 |
| Post-issue equity |
Rs 100 million |
| Return on equity |
2% |
| Comment |
Post-issue, ROE and EPS is terrible. Premium is not justified. Growth plans are not clear. Not much in it for value investors.
|
| Rating *
|
D
|
* 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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