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| Tips Industries Limited |
Business Line Thursday, April 13, 2000 Tips acquires Swaran Sudha MUMBAI: Tips Industries has acquired the audio rights of Swaran Sudha, a Telugu music company, thus making a foray into regional music. Tips Industries is entering the capital market and plans to raise approximately Rs. 100 crores through its initial public offering. The issue is scheduled to open shortly, a press release said. Swaran Sudha is a music company with over 190 titles and a network of 20 authorised dealers. Tips Industries has a library of 8,000 music albums which constitutes approximately 50 per cent to the revenues of the company, the release said. For the year ended March 31, 2000, Tips Industries expects a net profit of Rs. 24.5 crores on a total income of Rs. 112.81 crores. The estimated EPS for the year ended March 31, 2000 on a pre-issue capital of Rs. 9 crores works out Rs. 27.22. For the six months ended September 30, 1999, the company recorded a profit after tax of Rs. 12.64 crores on a total income of Rs. 67.76 crores.
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