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June 5, 2000
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|
| Company |
FI Sofex |
| Market Price |
Not listed |
| Lead manager |
Ind Global Finance Trust |
| Listing At |
Bangalore, Madras |
| Opening/Closing |
June 5, 2000 / June 9, 2000 |
| Promoters |
H R K Vasan, Surya Rao
|
| Associate Co. |
FI Sofex LLC, Lilac Enterprises
|
| Managing Director |
H R K Vasan
|
| Post-issue Stake |
52.33%
|
| Issue |
|
| Size |
Rs 22.8 million
|
| Price |
Rs 20 (Rs 10, premium Rs 10)
|
| On Application |
Rs 15
|
| On Allotment |
Rs 5
|
| Objective |
Expansion of software development facilities, applied graphics division, b-line catering to the international fashion retail market and enterprise management facilities
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| Business |
|
| Product |
Software development |
| Location |
Bangalore
|
| Project cost |
Rs 49.94 million
|
| Funded by |
Equity, non-convertible debentures from KSFC
|
| Kensource projections |
(2001) |
| Sales |
Rs 13.40 million
|
| Profit |
Rs 3.35 million |
| Earnings per share |
Rs 1.10 |
| Return on equity |
5% |
| Comment | For a software company, FI Sofex has shown very little growth. There is nothing to justify the premium. |
| Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
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