SIP Technologies & Exports Limited |
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- Bid Opens : 12th July 2000
- Issue Price: Rs. 235 /- per share (FV -
Rs.10/-)
- Issue Size: 11,25,000 shares (Book Built)
and 3,75,000 (Fixed Price Portion) aggregating Rs 40.3 crore
- Registrars to the Issue: Karvy Consultants
Ltd.
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- Bid Closes: 18th July 2000
- Minimum Application: 550 shares
- Post-issue promoter’s stake: 61.1%
- Book Running Lead Managers: Jardine Flemming
India Securities Ltd.
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Listing on: Madras,
Mumbai and National Stock Exchanges |
SIP Tech is an active resins manufacturing company
diversified into IT services
Main focus is on Java Technology and Internet/ web based
solutions
- Has long term contracts with all its clients; Sun
Microsystems Inc., USA; Firedrop Inc., USA; Arontis AG, Germany and KKL AG, Switzerland
- Mr K.C.Raghunanthan and K.C. Sukumar, who have an
experience of over 29 years in different industries, have promoted the company.
- The promoters have two other companies which are
incurring losses.
- Project cost estimated at Rs.42.21 crores.
- Project appraised by Global Trust Bank, which has extended a
loan of Rs.4.50 crore.
- Total income of the company has increased from Rs 22.2 lakhs
in 1998 to 1081.7 lakhs in 2000 and Net profit for the same period has increased from a
loss of Rs 79.1 lakhs to 442.6 lakhs.
- Issue proceeds would be used for the capital expenditure for
the ITservices, to meet for acquisitions and to meet the issue expenses.
- Total income for the years 2001 and 2002 stand at Rs 2650
lakhs and Rs 5220 lakhs respectively. Net profit for the same period stand at Rs 975 lakhs
and Rs 2060 lakhs. EPS for the same period stand at Rs 17.33 and Rs 34.33.
- NRIs can apply on both repatriation and non-repatriation
basis and on NRE/FCNR accounts.
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