Ampersand Software Applications Limited |
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- Issue Opens:
- Offer Price Range: Between Rs.175/-
and Rs. 200/- per share (Face Value - Rs.10/-)
- Issue Size:14,14,000 shares aggregating in
the range of 24.75 crore to 28.28 crore
- Registrars to the Issue: Karvy
Consultants Limited
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- Issue Closes:
- Minimum Application: 50 shares and in
multiples of 50 thereafter @ Rs.175/- to Rs.200/- each.
- Post-issue promoter’s stake:
43.81%
- Lead Managers: DSP Merrill Lynch Ltd.,
Jardine Fleming India Securities Limited.
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Listing on: Mumbai, National and Bangalore Stock Exchanges
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- Revenues generated are from the development of
Internet/intranet and e-commerce applications for customers abroad.
- Established in 1989, the Company has grown consistently in
terms of exports and financial performance. Over the last year (1998-99), revenues grew to
Rs. 14.54 crore with a PBDIT of Rs 2.01 crore. This is an increase of 123% on PBDIT on a
revenue growth of 54%.
- Promoted by technocrat entrepreneurs like Mr. Narasimhan
Mandyam and Ms. Surekha Shetty, who have over fourteen years of experience in the software
industry.
- The US subsidiary, Ampersand Corporation, has been rated at
no: 35 in the Los Angeles Fast 50, which ranks fastest growing companies, in a survey by
Deloitte & Touche.
- ISO 9001/Tick IT-certified by BVQI (UK).
- Uses proprietary intellectual property that enables
productivity increase in its delivery of Internet projects.
- Granted 100% Export Oriented Unit (EOU) status for the
development of Computer Software under the Software Technology Park (STP) scheme.
- Application by NRIs should be through NRE/FCNR accounts.
- While the company has a good past record and sound
strategies, the purpose of the issue seems to be more to prepay the loans. Investors are
advised to be cautious.
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