|
|
|
| Company |
Ontrack Systems
|
| Market Price |
Not listed |
| Lead manager |
IndBank Merchant Banking Services, Karvy Investor Services
|
| Listing At |
Madras, Calcutta
|
| Opening/Closing |
September 20/September 25 |
| Promoters |
B Hari
|
| Associate Co. |
Maiden Infotech
|
| Managing Director |
B Hari
|
| Post-issue Stake |
73%
|
| Issue |
|
| Size |
Rs 47 million
|
| Price |
Rs 20 (Price: Rs 10, premium: Rs 10)
|
| On Application |
Rs 20
|
| On Allotment |
Nil |
| Objective |
Develop portal "Tendertimes.com", set up development center in India and overseas, long term working capital.
|
| Business |
|
| Product |
Website development, networking, hardware installation, data management and system development
|
| Location |
Calcutta |
| Project cost |
Rs 104.9 million
|
| Funded by |
Equity, term loan
|
| Kensource projections |
(2001) |
| Sales |
Rs 35 million
|
| Profit |
Rs 2 million
|
| Earnings per share |
Re 0.40 |
| Forward P/E |
50 |
| Post-issue equity |
Rs 50 million
|
| Return on equity |
3% |
| Comment |
Sudden surge in profit margin before issue, project unlikely to yield results soon. Issue is overpriced
|
| 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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