|
|
|
| Company |
Essel Software & Services
|
| Market Price |
Not listed |
| Lead manager |
Aryaman Financial Services
|
| Listing At |
Hyderabad, Ahmedabad
|
| Opening/Closing |
September 25/October 3 |
| Promoters |
Sridhar Narra, Srinivasa Rao Narra, Srinivasa Rao Chagarlamudi
|
| Associate Co. |
None
|
| Managing Director |
Sridhar Narra
|
| Post-issue Stake |
70.63%
|
| Issue |
|
| Size |
Rs 16 million
|
| Price |
Rs 10
|
| On Application |
Rs 5
|
| On Allotment |
Rs 5 |
| Objective |
Fund software development project, set up overseas offices
|
| Business |
|
| Product |
Application software, consultancy
|
| Location |
Hyderabad |
| Project cost |
Rs 67.5 million
|
| Funded by |
Equity, term loan
|
| Kensource projections |
(2001) |
| Sales |
Rs 17 million |
| Profit |
Rs 0.60 million
|
| Earnings per share |
Re 0.11 |
| Forward P/E |
92 |
| Post-issue equity |
Rs 63 million
|
| Return on equity |
2% |
| Comment |
Late entrant in the software jungle, likely to get swallowed by competition. Already has high discounting. |
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
Money
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