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Home > Money > Stocks > IPO Center > IPO Analysis
September 20, 2000
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 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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IPO Analysis

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