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April 7, 2000
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Stocks
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|
| Company |
Archana Software Limited
|
| Market Price |
Unlisted
|
| Lead managers |
Keynote Corporate Services Ltd.
|
| Listing At
|
Madras Stock Exchange, BSE, NSE
|
| Opening/Closing
|
April 6, 2000/April 10, 2000
|
| Promoters | D Ravishankar, S Durai, V P Ramanathan
|
| Associate Co. |
None |
| Managing Director |
V B Senthilkumar
|
| Post-issues Stake |
26.50 %
|
| Issue |
|
| Size |
Rs 60 million
|
| Price |
Rs 10, premium Rs 10 |
| On Application |
Rs 10 |
| Allotment |
Rs 10 |
| Objective |
Expanding existing software development business, working capital, new offices abroad, listing (Madras), meet expenses of the issue
|
| Business |
|
| Product |
Software development
|
| Location |
Madras |
| Project cost |
Rs 67 million |
| Funded by |
Bank Loan and present issue
|
| Kensource projections |
(2001) |
| Sales |
Rs 80 million
|
| Profit |
Rs 7.5 million |
| Earnings per share |
Rs 1.2 |
| Return on equity |
8 % |
| Comment |
Income from software for FY 99 was 0.78 million. Projected income for FY 2000 is 112.3 million. Need we say more?
|
| Rating *
|
D
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
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