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May 9, 2000
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| Company |
Arraycom (India) |
| Market Price |
Not listed |
| Lead manager |
SBI Capital Markets
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| Listing At |
BSE, Ahmedabad
|
| Opening/Closing |
May 9, 2000 / May 15, 2000 |
| Promoters |
Jaisukhlal J Parekh, Atul Parekh, Gorsi Parekh
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| Associate Co. |
None
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| Managing Director |
Atul Parekh
|
| Post-issue Stake |
45.59%
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| Issue |
|
| Size |
Rs 585 million
|
| Price |
Rs 65. Face value Rs 5, premium Rs 60
|
| On Application |
Rs 16.25
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| On Allotment |
Rs 48.75
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| Objective |
Setting up a subsidiary in the US, strategic acquisitions, setting up in-house software facilities
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| Business |
|
| Product |
Communication solutions, materials and components
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| Location |
Gandhinagar, Gujarat
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| Project cost |
Rs 727.1 million
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| Funded by |
Equity shares, share premium, internal accruals
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| Kensource projections |
(2001) |
| Sales |
Rs 715 million
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| Profit |
Rs 128.5 million |
| Earnings per share |
Re 4.5 |
| Return on equity |
11% |
| Comment | The company has strong fundamentals and scope for growth but the issue is a little overpriced now
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| Rating *
|
B
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* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
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