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| Company |
Hughes Tele.com (India) |
| Market Price |
Not listed |
| Lead manager |
Kotak Mahindra Capital Company, ICICI Securities and Finance Company |
| Listing At |
Bombay, NSE |
| Opening/Closing |
Book bldg - August 29/September 5. Fixed Price - September 20/September 25 |
| Promoters |
Hughes Electronics Corporation USA, ALLTEL Corporation USA, Ispat Group
|
| Associate Co. |
None
|
| Managing Director |
Prakash Bajpai
|
| Post-issue Stake |
52% |
| Issue |
|
| Size |
Rs 7.49 billion (Rs 6.74 billion book bldg + Rs 0.75 billion fixed price)
|
| Price |
Rs 10, Floor price Rs 12
|
| On Application |
Minimum bid - 1100 shares
|
| On Allotment |
— |
| Objective |
Expansion of company's exisiting wireless and wireline telecommunications infrastructure.
|
| Business |
|
| Product |
Basic telephony services in Maharashtra
|
| Location |
Bombay, Maharashtra |
| Project cost |
Rs 34.85 billion
|
| Funded by |
Equity, debt
|
| Kensource projections |
(2001) |
| Sales |
Rs 1.86 billion |
| Profit |
Loss of Rs 2.21 billion
|
| Earnings per share |
— |
| Forward P/E |
— |
| Return on equity |
— |
| Comment |
Profit expected after 2004, why buy at a premium now? Unless, of course, you are a long-term investor.
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| Rating *
|
D
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* A=Subscribe & Hold; B = Subscribe & Watch C=Subscribe & Sell; D = Avoid
By Kensource Information Services Pvt Ltd.
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