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June 28, 2000
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Indian Tax
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Stocks
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|
| Company |
Aksh Optifibre |
| Market Price |
Not listed |
| Lead manager |
Anand Rathi Securities |
| Listing At |
Jaipur, BSE, NSE
|
| Opening/Closing |
Book building Bid - June 28 / July 4. Fixed Price - July 18 / July 20
|
| Promoters |
Kailash Chowdhari
|
| Associate Co. |
None
|
| Managing Director |
Kailash Chowdhari
|
| Post-issue Stake |
27.02%
|
| Issue |
|
| Size |
5.96 million shares (4.47 million BB + 1.49 million FP)
|
| Price |
Book Built + Fixed Price. Face value Rs 5. Floor price Rs 50
|
| On Application |
Minimum bid - 1050 shares
|
| On Allotment |
Nil
|
| Objective |
Capacity expansion, backward integration of Quartz Performs manufacture
|
| Business |
|
| Product |
Optical Fibre
|
| Location |
Bhiwadi, Rajastan
|
| Project cost |
Rs 412.4 million
|
| Funded by |
Equity, term loan from ICICI (Rs 68.7 mn) and internal accruals (Rs 20.23 mn)
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| Kensource projections |
(2001) |
| Sales |
Rs 1268 million
|
| Profit |
Rs 82 million
|
| Earnings per share |
Re 3.72 |
| Return on equity |
13% |
| Comment | A 'concept' stock. Lot of excitement about fibre optics. No explanation for the dip in turnover and the loss for the past two years
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| Rating *
|
C
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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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