|
|
|
| Company |
Prosoft Systems
|
| Market Price |
Not listed |
| Lead manager |
Fedex Securities
|
| Listing At |
Bangalore, Ahmedabad, Hyderabad
|
| Opening/Closing |
October 18/October 23
|
| Promoters |
Mohan Kumar K N
|
| Associate Co. |
None
|
| Managing Director |
Mohan Kumar K N
|
| Post-issue Stake |
24.19%
|
| Issue |
|
| Size |
Rs 61.6 million
|
| Price |
Rs 10
|
| On Application |
Rs 2.5
|
| On Allotment |
Rs 7.5
|
| Objective |
Finance diversification project into medical transcription and an office in the US
|
| Business |
|
| Present |
Corporate training, placements, software development and education
|
| Project |
Medical transcription centre
|
| Location |
Bangalore, Baroda
|
| Project cost |
Rs 114.1 million
|
| Funded by |
Equity and loan |
| Kensource projections |
(2001) |
| Sales |
Rs 18 million
|
| Profit |
Rs 4 million
|
| Earnings per share |
Re 0.35 |
| Forward P/E |
37 |
| Post-issue equity |
Rs 102.6 million
|
| Return on net worth |
7%
|
| Comment |
The promoters are inexperienced in IT. Initially a software education company, which started software development recently, wants to get into medical transcription. Highly risky. Small promoter holding.
|
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
Money
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