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Company |
Twin Cities Infotech
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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
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Managing Director |
Prakash Kanyadara
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Post-issue Stake |
42.77%
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Issue |
|
Size |
Rs 14.1 million
|
Price |
Rs 10
|
On Application |
Rs 5
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On Allotment |
Rs 5 |
Objective |
Funding of software development project, set up overseas office.
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Business |
|
Product |
Offshore software development, web-enabled busines/e-commerce product development |
Location |
Hyderabad |
Project cost |
Rs 60 million
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Funded by |
Equity, term loan and internal accruals
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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
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Return on equity |
4% |
Comment |
Erratic and slow growth, lack of clear focus, company is too small
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Rating *
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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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