|
July 13, 2000
Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks
|
|
| Company |
SIP Technologies |
| Market Price |
Not listed |
| Lead manager |
Jardine Fleming India Securities, Cazenove India (Holdings)
|
| Listing At |
BSE, NSE, Madras
|
| Opening/Closing |
Bid - July 12/July 18, Public issue - August 1/August 3
|
| Promoters | K C Raghunathan, K C Sukumar, SIP Industries
|
| Associate Co. |
SIP Industries, Bionnics Equipment, SIP Florals
|
| Managing Director |
K C Sukumar
|
| Post-issue Stake |
61.10%
|
| Issue |
|
| Size |
1.25 mn shares. Book Bldg - 1.125 mn shares, FP - 3.75 mn shares
|
| Price |
Floor Price - Rs 235
|
| On Application |
— |
| On Allotment |
— |
| Objective |
Set up marketing offices and development centers. Fund joint ventures and acquisitions
|
| Business |
|
| Product |
Product development, software development, technology development
|
| Location |
Madras |
| Project cost |
Rs 451.4 million
|
| Funded by |
Public issue and a Rs 45 million loan
|
| Kensource projections |
(2001) |
| Sales |
Rs 204.8 million
|
| Profit |
Rs 76.5 million
|
| Earnings per share |
Rs 12.75
|
| Return on equity |
28% |
| Comment | Relies on Sun Microsystems for 75% of its revenue. Core strength is Java technology which faces risk of obsolescence. Moreover, high quality software professionals are hard to come by
|
| Rating *
|
B
|
* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid
By Kensource Information Services Pvt. Ltd.
IPO Analysis
Tell us what you think of this feature
|
