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|
|
| Company |
Datanet Systems |
| Market Price |
Not listed |
| Lead manager |
BoB Capital Markets, IndBank Merchant Banking Services
|
| Listing At |
Bangalore, Hyderabad, Bombay |
| Opening/Closing |
August 23, 2000 / August 28, 2000 |
| Promoters |
A Prabhakar, Hari Mohan Sharma, H K Nanjunda Swamy
|
| Associate Co. |
M/s Designers & Builders, Spectrum Hitec (India) Pvt Ltd
|
| Managing Director |
A Prabhakar
|
| Post-issue Stake |
75% |
| Issue |
|
| Size |
Rs 31.5 million
|
| Price |
Rs 10
|
| On Application |
Rs 5 |
| On Allotment |
Rs 5 |
| Objective |
Expansion of existing facilities, working capital.
|
| Business |
|
| Product |
Workflow automation systems, computer telephony integration, banking software, Smartcard solutions for banking sector
|
| Location |
Bangalore |
| Project cost |
Rs 36 million
|
| Funded by |
Equity and term loan |
| Kensource projections |
(2001) |
| Sales |
Rs 84 million |
| Profit |
Rs 6 million |
| Earnings per share |
Re 0.47 |
| Forward P/E |
21 |
| Post-issue share capital |
Rs 126 million |
| Return on equity |
5% |
| Comment |
Interesting business, but, weak on strategy. Poor disclosure in prospectus. Main clients are public sector banks, thin margins
|
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch C=Subscribe & Sell; D = Avoid;
E = Watch post-listing
By Kensource Information Services Pvt Ltd.
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