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Company |
Ontrack Systems
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Market Price |
Not listed |
Lead manager |
IndBank Merchant Banking Services, Karvy Investor Services
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Listing At |
Madras, Calcutta
|
Opening/Closing |
September 20/September 25 |
Promoters |
B Hari
|
Associate Co. |
Maiden Infotech
|
Managing Director |
B Hari
|
Post-issue Stake |
73%
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Issue |
|
Size |
Rs 47 million
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Price |
Rs 20 (Price: Rs 10, premium: Rs 10)
|
On Application |
Rs 20
|
On Allotment |
Nil |
Objective |
Develop portal "Tendertimes.com", set up development center in India and overseas, long term working capital.
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Business |
|
Product |
Website development, networking, hardware installation, data management and system development
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Location |
Calcutta |
Project cost |
Rs 104.9 million
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Funded by |
Equity, term loan
|
Kensource projections |
(2001) |
Sales |
Rs 35 million
|
Profit |
Rs 2 million
|
Earnings per share |
Re 0.40 |
Forward P/E |
50 |
Post-issue equity |
Rs 50 million
|
Return on equity |
3% |
Comment |
Sudden surge in profit margin before issue, project unlikely to yield results soon. Issue is overpriced
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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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