May 22, 2000
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Company |
Irmac Services India |
Market Price |
Not listed |
Lead manager |
Keynote Corporate Services
|
Listing At |
Hyderabad, Ahmedabad
|
Opening/Closing |
May 22, 2000 / May 26, 2000 |
Promoters |
Nalin Patel, Omprakash Bhandari, Rajesh Patel, N C Krishna, K V Ramana Rao, K V Ratnakumar, K Shrinivasa Chowdhary, Deval Chandra Shekhar, Ray Uppaluri, Veerapalli Chandrakant, Thota Sarvarayudu, Golthi Sathya Prasad |
Associate Co. |
None
|
Managing Director |
K Shrinivasa Chowdhary
|
Post-issue Stake |
21.72%
|
Issue |
|
Size |
Rs 36.45 million
|
Price |
Rs 30 (Rs 10, premium Rs 20)
|
On Application |
Rs 15
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On Allotment |
Rs 15
|
Objective |
Part finance cost of expansion and setting up an overseas office, setting up a development center at Hyderabad
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Business |
Software Development
|
Product |
System and application software development, training
|
Location |
Hyderabad
|
Project cost |
Rs 137 million
|
Funded by |
Equity and term loan
|
Kensource projections |
(2001) |
Sales |
Rs 46.10 million
|
Profit |
Rs 5.52 million |
Earnings per share |
Rs 1.13 |
Return on equity |
7% |
Comment | The company has nothing impressive on its cards, too much dependency on Macola Inc, USA might cause problems
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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.
IPO Analysis
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