April 18, 2000
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Stocks
|
|
Company |
Bangalore Softsell Ltd
|
Market Price |
Unlisted
|
Lead manager |
Karvy Consultants, SBI Capital Markets
|
Listing At
|
Ahmedabad, Bangalore, Madras
|
Opening/Closing
|
April 17, 2000/April 24, 2000
|
Promoters |
S Ragothaman, R Usha
|
Associate Co. |
None
|
Managing Director |
S Ragothaman
|
Post-issue Stake |
70%
|
Issue |
|
Size |
Rs 97.5 million
|
Price |
Equity shares of Rs 5 at a premium of Rs. 27.50 per share (Rs 32.50 per share)
|
On Application |
Rs 32.50
|
Allotment |
Nil |
Objective |
Part finance software development facility, overseas offices in USA & UK, meet expenses of issue, list shares at Ahmedabad, Bangalore and Madras
|
Business |
|
Product |
Software & migration projects
|
Location |
Bangalore
|
Project cost |
Rs 166.5 million |
Funded by |
Equity and term loans
|
Kensource projections |
(2001) |
Sales |
Rs 60 million
|
Profit |
Rs 12 million |
Earnings per share |
Rs 1.20 |
Return on equity |
9 % |
Comment |
Highly optimistic about the expected profit, the return on equity will fall after the issue, high amount of the expenditure to be incurred on interiors.
|
Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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