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Home > Money > Stocks > IPO Center > IPO Analysis
September 15, 2000
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 Company  Twin Cities Infotech
 Market Price  Not listed
 Lead manager  Aryaman Financial Services
 Listing At  Ahmedabad, Hyderabad
 Opening/Closing  September 14/September 20
 Promoters  Prakash Kanyadara, Ravi Chandra Bobba, Shukur Mohammad, Sambashiva Rao Bhashyam, Venkateshwaralu I
 Associate Co.  None
 Managing Director  Prakash Kanyadara
 Post-issue Stake  42.77%
 Issue  
 Size  Rs 14.1 million
 Price  Rs 10
 On Application  Rs 5
 On Allotment  Rs 5
 Objective  Funding of software development project, set up overseas office.
 Business  
 Product  Offshore software development, web-enabled busines/e-commerce product development
 Location  Hyderabad
 Project cost  Rs 60 million
 Funded by  Equity, term loan and internal accruals
 Kensource projections  (2001)
 Sales  Rs 11 million
 Profit  Rs 0.79 million
 Earnings per share  Re 0.15
 Forward P/E  66
 Post-issue equity  Rs 51.75 million
 Return on equity  4%
 Comment Erratic and slow growth, lack of clear focus, company is too small
 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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IPO Analysis

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