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April 17, 2000

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 Company  Baron Infotech Ltd
 Market Price  Unlisted
 Lead manager  Karvy Investor Services, ASK Raymond James
 Listing At  BSE, Hyderabad
 Opening/Closing  April 17, 2000/April 20, 2000
 Promoters  N V Rama Raju, D Srinivasa Raju, N Srinivasa Raju
 Associate Co.  None
 Managing Director  N V Rama Raju
 Post-issue Stake  74.51%
 Issue  
 Size  Rs 25.5 million
 Price  Rs 10 at par
 On Application  Rs 10
 Allotment  Nil
 Objective  Expand software development center in Hyderabad, overseas offices in Singapore & USA, strengthen existing product portfolio (Banking, ERP, e-commerce), working capital requirements, meet expenses of the issue, listing of shares.
 Business  
 Product  Business applications, IT Consultancy, Bank automation solutions, Enterprise solutions.
 Location  Hyderabad
 Project cost  Rs 106 million
 Funded by  Equity and term loans
 Kensource projections  
 Sales  Rs 80 million
 Profit  Rs 16 million
 Earnings per share  Rs 1.50
 Return on equity  11.50 %
 Comment  No experience in e-commerce solutions, small company, great expectations
 Rating *  D

* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid

By Kensource Information Services Pvt. Ltd.

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