April 7, 2000
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Stocks
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|
Company |
Archana Software Limited
|
Market Price |
Unlisted
|
Lead managers |
Keynote Corporate Services Ltd.
|
Listing At
|
Madras Stock Exchange, BSE, NSE
|
Opening/Closing
|
April 6, 2000/April 10, 2000
|
Promoters | D Ravishankar, S Durai, V P Ramanathan
|
Associate Co. |
None |
Managing Director |
V B Senthilkumar
|
Post-issues Stake |
26.50 %
|
Issue |
|
Size |
Rs 60 million
|
Price |
Rs 10, premium Rs 10 |
On Application |
Rs 10 |
Allotment |
Rs 10 |
Objective |
Expanding existing software development business, working capital, new offices abroad, listing (Madras), meet expenses of the issue
|
Business |
|
Product |
Software development
|
Location |
Madras |
Project cost |
Rs 67 million |
Funded by |
Bank Loan and present issue
|
Kensource projections |
(2001) |
Sales |
Rs 80 million
|
Profit |
Rs 7.5 million |
Earnings per share |
Rs 1.2 |
Return on equity |
8 % |
Comment |
Income from software for FY 99 was 0.78 million. Projected income for FY 2000 is 112.3 million. Need we say more?
|
Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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