July 6, 2000
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Company |
Recursion Software |
Market Price |
Not listed |
Lead manager |
Nagarjuna Financial Services, Bajaj Capital
|
Listing At |
Hyderabad, Bangalore
|
Opening/Closing |
July 6 / July 13 |
Promoters | Krishna Vemuri, Ramaiah Rao, Ramchandra Rao
|
Associate Co. |
Sourya Infotech
|
Managing Director |
V Krishna
|
Post-issue Stake |
74.58%
|
Issue |
|
Size |
Rs 10 million
|
Price |
Rs 10
|
On Application |
Rs 5
|
On Allotment |
Rs 5
|
Objective |
Software development facility at Hyderabad, branch office in the US
|
Business |
|
Product |
Re-engineering of Software, Web enablement of legacy applications, E-commerce & Internet related programming, database and system administration
|
Location |
Hyderabad
|
Project cost |
Rs 24.78 million
|
Funded by |
Equity and term loan of Rs 8 million
|
Kensource projections |
(2001) |
Sales |
Rs 34 million
|
Profit |
Rs 7 million
|
Earnings per share |
Rs 1.70
|
Return on equity |
17% |
Comment | The company seems to be on to a fresh start. Interesting tie-up with global player Merant.
|
Rating *
|
C
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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