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May 8, 2000
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| Company |
Micro Technologies (India) |
| Market Price |
Not listed |
| Lead manager |
Keynote Corporate Services
|
| Listing At |
Pune, Ahmedabad and Hyderabad
|
| Opening/Closing |
May 8, 2000 / May 13, 2000 |
| Promoters |
Sekhar, Jayanthi S
|
| Associate Co. |
—
|
| Managing Director |
Sekhar
|
| Post-issue Stake |
43.97% |
| Issue |
|
| Size |
Rs 82.5 million |
| Price |
Rs 60. Rs 10 per share, premium Rs 50
|
| On Application |
Rs 30
|
| On Allotment |
Rs 30
|
| Objective |
Set up five development centers in major metros, equip these with the latest gizmos, set up a development center cum corporate office at New Bombay, takeovers and mergers, advertising and promotions and to repay debts
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| Business |
|
| Product |
Software project implementation
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| Location |
New Bombay
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| Project cost |
Rs 175 million
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| Funded by |
Mostly through equity and a small part through internal accruals
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| Kensource projections |
(2001) |
| Sales |
Rs 118.68 million
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| Profit |
Rs 9.28 million
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| Earnings per share |
Rs 1.69 |
| Return on equity |
5% |
| Comment | The business strategy is not very clear. The company seems to be doing too many things at the same time.
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| Rating *
|
D
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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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