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June 22, 2000

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 Company  Pyxis Technology Solutions
 Market Price  Not listed
 Lead manager  Ashika Credit Capital
 Listing At  Hyderabad, Calcutta
 Opening/Closing  June 22, 2000 / June 28, 2000
 Promoters  B Satish Kumar, B Suresh Kumar, V V Krishna Rao
 Associate Co.  Vizag Profiles, Vizag Steel Profiles, Orion Transport, Orion Industries
 Managing Director  B Satish Kumar
 Post-issue Stake  71.33%
 Issue  
 Size  Rs 20.60 million
 Price  Rs 10
 On Application  Rs 10
 On Allotment  Nil
 Objective  Part finance development center, develop e-business and web based application programs
 Business  
 Product  Web integration and enablement services, portal development
 Location  Hyderabad
 Project cost  Rs 83.35 million
 Funded by  Equity, term loan, Andhra Pradesh Industrial Develoment Corporation
 Kensource projections  (2001)
 Sales  Rs 7.59 million
 Profit  Rs 1.21 million
 Earnings per share  Re 0.15
 Return on equity  1%
 Comment The company is making a public issue of over 20 million and has given loans almost half of this amount to an associate company. Why?
 Rating *  D

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

By Kensource Information Services Pvt. Ltd.

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