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|
|
| Company |
Fortune Infotech
|
| Market Price |
Not listed |
| Lead manager |
Doogar & Associates Limited
|
| Listing At |
Ahmedabad, Vadodara
|
| Opening/Closing |
November 10/November 16 |
| Promoters |
Fortune Fiscal Limited and and 17 other individuals
|
| Associate Co. |
Fortune Infotech (USA) Inc. Fortune Fiscal Limited
|
| Managing Director |
Kantilal K Patel
|
| Post-issue Stake |
74.07%
|
| Issue |
|
| Size |
Rs 19 million
|
| Price |
Rs 10 |
| On Application |
Rs 10 |
| On Allotment |
— |
| Objective |
Expansion of Medical Transcription facilities, Setting up software development center
|
| Business |
|
| Present |
Medical Transcription Services and training, software development
|
| Proposed Project
|
Expansion of existing facilities
|
| Location |
Vadodara
|
| Project cost |
Rs 73.74 million
|
| Funded by |
Equity, term loan |
| Kensource projections |
(2001) |
| Sales |
Rs 22.5 million
|
| Profit |
Rs 4 million
|
| Earnings per share |
Re 0.71 |
| Forward P/E |
14 |
| Post-issue equity |
Rs 54 million
|
| Return on net worth |
6% |
| Comment |
Size of operations is too small. Return on net worth is poor, even at its 2002 EPS it looks expensive.
|
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
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