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May 22, 2000
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|
| Company |
Irmac Services India |
| Market Price |
Not listed |
| Lead manager |
Keynote Corporate Services
|
| Listing At |
Hyderabad, Ahmedabad
|
| Opening/Closing |
May 22, 2000 / May 26, 2000 |
| Promoters |
Nalin Patel, Omprakash Bhandari, Rajesh Patel, N C Krishna, K V Ramana Rao, K V Ratnakumar, K Shrinivasa Chowdhary, Deval Chandra Shekhar, Ray Uppaluri, Veerapalli Chandrakant, Thota Sarvarayudu, Golthi Sathya Prasad |
| Associate Co. |
None
|
| Managing Director |
K Shrinivasa Chowdhary
|
| Post-issue Stake |
21.72%
|
| Issue |
|
| Size |
Rs 36.45 million
|
| Price |
Rs 30 (Rs 10, premium Rs 20)
|
| On Application |
Rs 15
|
| On Allotment |
Rs 15
|
| Objective |
Part finance cost of expansion and setting up an overseas office, setting up a development center at Hyderabad
|
| Business |
Software Development
|
| Product |
System and application software development, training
|
| Location |
Hyderabad
|
| Project cost |
Rs 137 million
|
| Funded by |
Equity and term loan
|
| Kensource projections |
(2001) |
| Sales |
Rs 46.10 million
|
| Profit |
Rs 5.52 million |
| Earnings per share |
Rs 1.13 |
| Return on equity |
7% |
| Comment | The company has nothing impressive on its cards, too much dependency on Macola Inc, USA might cause problems
|
| Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
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