July 21, 2000
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|
Company |
Daisy Systems |
Market Price |
Not listed |
Lead manager |
Aryaman Financial Services
|
Listing At |
Hyderabad, Ahmedabad, Pune, Delhi
|
Opening/Closing |
July 21/July 25
|
Promoters | Achutuni Sundar, A V Laxmi
|
Associate Co. |
None
|
Managing Director |
Achutuni Sundar
|
Post-issue Stake |
75%
|
Issue |
|
Size |
Rs 26.25 million
|
Price |
Rs 20
|
On Application |
Rs 20 |
On Allotment |
Nil |
Objective |
Part finance expansion and infrastructure requirements
|
Business |
|
Product |
Assembling and trading of computers and peripherals
|
Location |
Hyderabad |
Project cost |
Rs 95 million
|
Funded by |
Mainly equity and a term loan of Rs 10 million |
Kensource projections |
(2001) |
Sales |
Rs 91 million
|
Profit |
Rs 6 million
|
Earnings per share |
Rs 1.22
|
Forward P/E |
16.32
|
Post-issue share capital |
Rs 71.8 million
|
Return on equity |
6% |
Comment | Low margins, slow growth, promoters have no experience in software development. Premium is not justified.
|
Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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