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|
|
| Company |
Siris Soft
|
| Market Price |
Not listed |
| Lead manager |
CIL Securities
|
| Listing At |
BSE, Hyderabad
|
| Opening/Closing |
September 25/October 3 |
| Promoters |
Gokaraju Ganesh Kumar and B Kasi Raju
|
| Associate Co. |
Siris Agro Limited, Siris Cellars Pvt Ltd
|
| Managing Director |
Gokaraju Ganesh Kumar
|
| Post-issue Stake |
74.63%
|
| Issue |
|
| Size |
Rs 26 million
|
| Price |
Rs 10
|
| On Application |
Rs 5
|
| On Allotment |
Rs 5 |
| Objective |
Infrastructure expansion, market existing ERP products, set up branches in the US
|
| Business |
|
| Product |
E-commerce applications
|
| Location |
Hyderabad |
| Project cost |
Rs 110 million
|
| Funded by |
Equity, term loan
|
| Kensource projections |
(2001) |
| Sales |
Rs 65 million |
| Profit |
Rs 13 million
|
| Earnings per share |
Rs 1.27 |
| Forward P/E |
8 |
| Post-issue equity |
Rs 102.5 million
|
| Return on equity |
13% |
| Comment |
Good financials, interesting alliances/tie-ups, yet, the only attraction is 'offer at par'. |
| Rating *
|
C
|
* 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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