HMA Starware Ltd.
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  • Issue Opens :
  • Issue Price: Rs.50 /- per share (FV - Rs.10/-)
  • Issue Size: 25,00,000 shares amounting to Rs.12.50 crore
  • Registrars to the Issue: Karvy Consultants Ltd.
  • Issue Closes:
  • Minimum Application: 100 shares @ Rs.25 each
  • Post-issue promoter’s stake: 65.04%
  • Lead Managers: Canara Bank-Merchant Banking Division, SMIFS Capital Market Limited

Listing on: Chennai, Mumbai and National Stock Exchanges

Highlights of the Issue
  • Entered the industry almost five years back as HMA Data Systems Pvt. Ltd.
  • Company is strong in retail banking projects and are the Pioneers in development of middleware Software products for the automation of banking industry.
  • The Company has a strong customer base with over 50 banks having already installed various middleware software products.
  • Total Income of the company has increased from Rs. 53.43 lakhs in 1997 to Rs. 234.54 lakhs in 2000. Net profit has increased from Rs 17.01 lakhs to Rs. 45.98 lakhs in the same period. 
  • Estimated total income of the company for FY2001 stands at Rs. 877 lakhs and net profit at Rs. 152.84 lakhs.
  • Application by NRIs/OCBs is to be made only on a non-repatriable basis and on NRO account.
  • Issue proceeds will be used to set up overseas marketing offices, set up a new software development center, expansion of existing software center and meet working capital requirements.
  • Shri Harish.K.Murthi is the promoter.
  • Scrip is overpriced though the company is fundamentally strong.

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